Illinois continues to struggle with its budget. The state’s most recent stopgap budget expired on December 31, 2016. To perhaps break up the political logjam, Illinois senators of both political parties have begun...
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- Lunch Links: New Jersey Gov. Christie's Birthday Pre...
Lunch Links: New Jersey Gov. Christie's Birthday Present Does Not Sit Well With Pennsylvania; D.C. Not So Pricey Relatively Speaking; Wyoming Says Food Off the Table
Today is September 6, the birthday of New Jersey Governor Chris Christie (R). Over the Labor Day weekend, Christie tore up a 39-year income tax reciprocity agreement between New Jersey and Pennsylvania. The action will punish Pennsylvanians who work in New Jersey by subjecting them to much higher New Jersey taxes starting January 1, 2017. Back in 1977, New Jersey had a 2.5 percent top income tax rate and Pennsylvania had a 2 percent top income tax rate, so there wasn’t much of a gap; today, New Jersey’s is 8.97 percent and Pennsylvania’s 3.07 percent.
Here are some interesting links I came across:
Pence Says His Tax Returns Coming This Week: On NBC’s Meet the Press, the Republican vice presidential nominee said: “Donald Trump and I are both going to release our tax returns. I’ll release mine in the next week.” He declined to answer when Trump would release his. Trump on Monday said that few care about his taxes. (Mediaite / Politico)
Wolf Denounces End to New Jersey-Pennsylvania Tax Reciprocity: A spokesman for the Pennsylvania governor: “It seems that Gov. Christie is committed to making Pennsylvania and our residents working in New Jersey suffer the consequences of his failure to enact a responsible budget.” New Jersey Senate President Steve Sweeney (D): “This is not the last word on this issue. We should not be balancing New Jersey’s books on the backs of middle-class taxpayers.” (The Wall Street Journal)
Wyoming Legislators Say No Taxing Food: With energy prices down, Wyoming will have to rely more on its sales tax and is looking at exemptions. One that’s off the table is the wide-ranging sales tax exemption for food, after a recent public outcry. (Casper Star-Tribune)
Yes D.C. is Expensive But: Greater Greater Washington says that while our Relative Value of $100 Map shows D.C. is pricey, it is not as pricey when you look at the map by metro area. And, they argue, if you adjust for D.C.’s high wages, everything balances out. (Greater Greater Washington)
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