Tag: state of the state
Tag: state of the state (page 3)
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Iowa Governor’s Condition of the State Address Promises Bold Tax Reform
Iowa Governor Kim Reynolds delivered her first Condition of the State address last week in Des Moines. Reynolds served as Lieutenant Governor under former Governor Terry Branstad.
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Vermont’s State of the State Address Highlights Difficult Hike Ahead
Vermont Governor Phil Scott (R.) exemplified non-partisan, economic realism during his state of the state address. Over the past decade, the state of Vermont has faced extreme economic difficulties, many…
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New York State of State Response
In Governor Andrew Cuomo’s state of the state address, the governor declared that New York is “once again the nation’s beacon…
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State of the State: Delaware
Governor Carney's agenda resists overall spending reductions, advocates for higher taxes and neglects other needed policy reforms (such as worker’s compensation and worker freedom). With a legislature unlikely to circumvent the lackluster agenda of the new governor, don’t expect Delaware’s economic outlook to break through the median anytime soon.
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State of the State: Ohio
A renewed focus on reforms-rather than government micromanagement-can ensure the governor’s homestretch is one of continued economic renewal.
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State of the Commonwealth: Massachusetts
Overall, however, the state’s steps towards economic competitiveness are yielding results. Governor Baker rightfully recognized this achievement, “We built a bipartisan team, worked in partnership with the legislature and looked for common ground.” Shrinking the state’s budget gap by over $1 billion without tax or fee increases is just one example.
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State of the State: Vermont
With Vermont’s economic outlook continuing to languish at 49th (according to the American Legislative Exchange Council’s Rich States, Poor States publication), legislators may be ready to take the governor’s charge to heart: “We must act now, and begin our ascent.”
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State of the State: Utah
The governor cautioned against “altering our tax policies in any way that could damage our robust economic engine.” He also advised that the “best way to ensure ongoing growth of education funding is to continue to grow our economy. Failure to take into account how tax rates affect business investment won’t help us make good policy decisions.” Indeed, the relatively low top marginal personal and corporate income tax rates (18th and 11th lowest, respectively) are partly responsible for Utah holding the top economic outlook for 10 consecutive years.
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State of the State: Michigan
Fortunately, the governor recognizes that the government can best enable growth by removing artificial obstacles to entrepreneurs: “Over the last few years we dumped the dumbest tax in America, we cut needless regulations, we started paying down our long-term debt, we started saving for the future, we laid the groundwork for success we have today so our businesses could create jobs. We create the environment for job creation, we don’t create those jobs.”
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State of the State: California
The governor is right: we cannot “construct some alternate universe of non-facts that we find more pleasing.” California’s economic outlook currently ranks 46th nationally, according to Rich States, Poor States. Ignoring the impending fiscal collapse due to unfunded pension liabilities, failing to reduce the onerous tax burden, and pretending that a state carbon emissions crackdown will alter global climate only will force others to flee Governor Brown’s vision of the future.
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State of the State: Kentucky
On a very bright note, Bevin signed legislation into law earlier this year that officially made Kentucky a right-to-work state, an important step in attracting business and expanding freedom of choice for workers on the decision regarding unionization. A continuation of this spirit of reform bodes well for the state’s future.
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State of the State: New Jersey
The governor praised legislators for reducing the state sales tax and increasing the exclusions for the state’s estate tax; but he failed to mention the tax cut savings are almost entirely offset by the enormous 23-cent per gallon increase in the gas tax. This year’s sales tax reduction of 0.125 percent will save consumers a whopping $1.25 on a $1,000 purchase; meanwhile, the gas tax hike will cost twice this much on a single 11 gallon fill-up.
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State of the State: Maine
Under Governor LePage’s leadership, Maine’s economic outlook has improved from 48th in 2011 to 38th in 2016. But the tax hike and minimum wage increase threaten to roll back all of the recent progress. The governor recognizes this economic peril. His economic agenda address the problems created by the twin referendums from this fall. The outcome depends on whether or not state legislators heed his warnings.
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State of the State: Hawaii
One of the highest personal income tax rates in the nation and the highest sales tax burden in the nation, and forced unionization all contribute to Hawaii’s 42nd place economic outlook ranking according to ALEC’s annual Rich States, Poor States publication.
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State of the State: Oregon
Improving the Beaver State’s dismal 41 out of 50 economic outlook rank demands serious reforms. Streamlining government and reforming pensions can help address Oregon’s massive budget shortfall. Pro-growth tax reform would be another step in the right direction and would encourage more families, job creators, and taxpayers to call Oregon home.
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State of the State: Oklahoma
Oklahoma’s economic outlook remains bright, despite the recent localized recession as the oil boom crashed to a halt. Rather than enacting these permanent tax increases, a continuation of temporary budget constraints more adequately will preserve the Sooner State’s economic competitiveness.
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State of the State: New Mexico
In short, it’s not that things in New Mexico are getting worse; they’re just stuck in low gear. According to ALEC’s Rich States, Poor States, economic performance remains in the bottom third of all states; economic outlook is stuck at 34th place nationally, just one spot better than back in 2010. This lackluster outlook persisted during the energy boom years of 2010-2013. In fact, from 2004-2014, only ten states had lower gross domestic product growth than New Mexico. It’s no surprise that the state experienced negative domestic migration in 2016 for the fourth consecutive year in a row.
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State of the State: Nevada
Nevada remains one of the most business-friendly states. The education system is rapidly becoming the envy of the nation. And it’s no surprise that many choose to escape the high-tax regime of California for no-income-tax Nevada. But to stop the slide in economic outlook, Nevadans should reject further cronyism and resist calls for a further erosion of the low-tax environment.
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West Virginia: Governor Recognizes Problems, but Solutions Fall Short
If delivery and mannerisms accurately convey intentions, West Virginia Governor Justice possesses the best of them. However, his policy prescriptions generally fell short of practical solutions.