Today, for the first time in ten years, the U.S. House of Representatives has voted to repeal the federal estate tax. The final vote on HR 1105 was 240-179, with 233 Republicans and 7 Democrats voting yea. The bill was...
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- DC Budget Blues
DC Budget Blues
Apparently, D.C. councilmembers have exempted themselves from parking laws. The Examiner notes that while Councilman Kwame Brown voluntarily paid his recent parking tickets, Councilman Harry Thomas, Jr. is refusing to pay $655 from four tickets. His SUV got booted last week.
Meanwhile Mayor Fenty divvied up a bunch of free baseball tickets with the City Council, and only now are getting cold feet about throwing a bunch of tax subsidies at favored companies. If companies refuse to locate or expand in D.C. because of its awful tax system, that's a sign that something needs to be done about the awful tax system. For everyone, not just one company.
D.C. is trying to close a $200 million gap between expected revenues and planned expenses in this year's $10.2 billion budget, and a $550 million gap in next year's budget.
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The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.
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