There may be even bigger challenges coming. In addition to the likelihood the state will face another unpleasant revenue surprise in the spring, a pending court decision could obligate the legislature to add hundreds of millions of dollars a year to state aid to school districts. And bond rating agencies, which already downgraded the state’s…
Tag: taxes
We’re not in Kansas anymore – or are we?
Great clip from the Daily Show about tax cut strategies gone wrong, prompting Kansas Republicans to endorse the Democratic opponent of Sam Brownback, the current Republican Governor. The Daily Show Get More: Daily Show Full Episodes,Indecision Political Humor,The Daily Show on Facebook
To Pay for Infrastructure Repairs, Obama Seeks Tax Changes
ST. PAUL, Minn. — Caught between a gridlocked Congress and a Highway Trust Fund that will soon be broke, President Obama on Wednesday urged lawmakers to overhaul corporate and business taxes to pay for repairing and replacing the nation’s aging roads, rails, bridges and tunnels. … New legislation to pay for transportation projects is an urgent priority for both…
Michigan has nearly $1B more than expected for budget | Crains Detroit Business
State budgets have been rebounding much faster than most city budgets (for many reasons: spending cuts achieved through attrition are finally appearing on the balance sheet, income taxes have begun to recover faster than housing values, etc.). Accordingly, states that were experiencing “fiscal emergencies” just a few months ago are now facing surpluses as they…
Rich people, poor people
Mayor Bloomberg’s interesting framing of how rich people bring more money to the city’s budget, which helps the many poor people living in the city (yes, despite all the frenzy about hipsters in NY, 46% of New Yorkers’s live under 150% of the federal poverty threshold, or less than $35,775 for a family of four)….