Tag: Taxation

Tag: Taxation (page 3)

  • State of the State: New Hampshire image

    State of the State: New Hampshire

    Despite the Granite State’s strengths and Sununu’s proposals, there remains work to be done. For example, the top marginal tax rate for corporations is a steep 8.2%; and although New Hampshire doesn’t have a personal income tax or sales tax, it does have the highest property tax burden in the nation. New Hampshire also ranks a lackluster 37th in the nation in terms of burdensome regulations according to the Pacific Research Institute. Furthermore, the recently released ALEC report Unaccountable and Unaffordable 2016 ranks the state’s pension funding level at 43rd nationally. Using a risk-free rate of return of 2.344 percent, New Hampshire’s state pensions are unfunded in excess of $13,000 per capita with a funded ratio of just 28 percent.

  • State of the Commonwealth: Massachusetts image

    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.

  • State of the State: Vermont image

    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.”

  • State of the State: Utah image

    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.

  • State of the State: Michigan image

    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.”

  • State of the State: Louisiana image

    State of the State: Louisiana

    Louisiana Governor John Bel Edwards highlighted the “success” of the Medicaid expansion, foster care improvements, budget reforms, and business investment growth during his second State of the State address; but most of his speech …

  • Taxes Matter—Yes, in Georgia Too image

    Taxes Matter—Yes, in Georgia Too

    With gridlock continuing to delay the first fundamental federal tax reform since 1986, states are leading the way. Recognizing that tax policy has the power to make or break an …

  • State of the State: Pennsylvania image

    State of the State: Pennsylvania

    Enacting common sense budgetary reforms, eliminating some cronyism, and blocking attempts to increase taxes yet further are commendable. But this will not reverse Pennsylvania’s economic malaise. Accomplishing this will require bold reduction in twin burdens of bureaucracy and tax burden.

  • State of the State: Maine image

    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.

  • Cornhuskers Need Not Fear Tax Reform image

    Cornhuskers Need Not Fear Tax Reform

    States like North Carolina have flourished after embracing both tax relief and restraints on spending.

  • Arkansas Gains Big on Capital Gains Tax Cut image

    Arkansas Gains Big on Capital Gains Tax Cut

    According to Governor Asa Hutchinson, Arkansas ended fiscal year 2016 with a budget surplus of $177.4 million – a sizable $117.3 million higher than the previous fiscal year.

  • Philadelphia Embraces Discriminatory Taxation image

    Philadelphia Embraces Discriminatory Taxation

    "This is not the narrative that had been told to the public."

  • State Tax Cut Roundup: 2015 Legislative Session image

    State Tax Cut Roundup: 2015 Legislative Session

    The 2015 legislative session featured a notable number of states achieving tax relief and tax reform for their citizens. Pro-growth tax reform was a key theme throughout the 2015 legislative …

  • ACCE Principles of Taxation image

    ACCE Principles of Taxation

    The fundamental principles presented here provide guidance for a neutral and effective tax system; one that raises needed revenue for core functions of government, while minimizing the burden on citizens.

  • Jonathan Williams Talks Charitable Giving vs. Tax Scrooges with Heartland image

    Jonathan Williams Talks Charitable Giving vs. Tax Scrooges with Heartland

    Jonathan Williams, ALEC Vice President of the Center for State Fiscal Reform, got into the Christmas spirit of giving through a conversation about the ALEC report on how tax policy affects charitable giving with Jesse Hathaway, Managing …

  • Stopping Discriminatory Taxation of Internet Access image

    Stopping Discriminatory Taxation of Internet Access

    While the gridlock in Washington, D.C. continues to frustrate many Americans, federal policymakers have a golden opportunity to send hardworking American taxpayers an important victory during this holiday season. Congress …

  • Digital Goods and Services Tax Fairness Resolution image

    Digital Goods and Services Tax Fairness Resolution

    WHEREAS, the American Legislative Exchange Council (“ALEC”) has a foundational and principled history of fighting against excessive, multiple, discriminatory and inconsistent taxation while promoting private sector competitiveness and states’ rights …

  • Travel Agent Tax Fairness Act image

    Travel Agent Tax Fairness Act

    Summary This legislation establishes a sensible framework to eliminate confusion and controversy in the imposition of sales and hotel occupancy taxes on services provided by travel agents and other travel …

  • Budget Debate Highlights Pennsylvania’s Need for Fundamental Tax and Pension Reform image

    Budget Debate Highlights Pennsylvania’s Need for Fundamental Tax and Pension Reform

    Despite very different opinions on how to fix the budget, Pennsylvania legislators and the governor have agreed on something: there is a $1.2 billion budget shortfall. In the words …

  • Jonathan Williams Discusses Pennsylvania’s Competitiveness on PMA Perspective image

    Jonathan Williams Discusses Pennsylvania’s Competitiveness on PMA Perspective

    Jonathan Williams Discusses Pennsylvania’s Competitiveness on PMA Perspective On Sunday night, Vice President for the Center for State Fiscal Reform, Jonathan Williams, joined Carl Marrara of the Pennsylvania Manufacturers Association …