The Tax Policy Blog

February 23, 2009

The Commonwealth Foundation in Pennsylvania has released its suggestions for balancing the state's budget with spending reforms. Check it out here.

See the Tax Foundation's report on state budgets here.

More blog posts on Pennsylvania here.

February 23, 2009

Included in the stimulus bill signed by the President last week are a number of provisions relating to the individual income tax. We have released a new Fiscal Fact (Update: The Tax Savings from Final Fiscal Stimulus) showing the tax savings for typical families from the stimulus bill. The Fiscal Fact includes examples for a family with college expenses, a family who purchases a home, and an elderly couple....

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February 22, 2009

Last month many homeowners received their property tax bills. As hard as it can be to write such a large check, it can be even harder to figure out exactly how the local taxing authorities calculated your tax bill. So, in the spirit of helping taxpayers understand their tax bills and the complex laws and math behind them:

What is the property tax liability for a home with a market value of $300,000, an assessment ratio of 60%, and a nominal property tax rate of 14.5 mills...

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February 20, 2009

After leafing through the reams that make up the federal stimulus bill earlier this month, California's budget bill (fiscal note here) is more of a breeze. Quick and to the point. (Yesterday we covered the bill's passage and its...

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February 20, 2009

Everyone has been talking about the enormous Mega Millions jackpot lately. Even in troubled times, people are still willing to buy lottery tickets, perhaps even more so in troubled times.

Many states have recently looked for ways to expand their lotteries to bring in more revenue—not a wise way to fill state coffers in times of recession or prosperity.  And now some state...

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February 19, 2009

You know tax news has hit mainstream when the Weekly World News is doing a parody of it.

Oregon's beer tax is one of the lowest in the country...

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February 19, 2009

In line with our post earlier today on a proposal to increase Oregon's beer tax, a bill to increase Idaho's beer tax from 15 cents to 45 cents per gallon survived its first challenge:

Proponents of boosting Idaho's beer and wine tax to fund substance abuse treatment won an initial victory in the Legislature when their bill was narrowly approved for further debate.

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February 19, 2009

In this edition of the Tax Policy Podcast, we turn to the recently passed federal stimulus package. Tax Foundation Vice President for Economic Policy Robert Carroll, PhD, talks with Robert Barro, the Paul M. Warburg Professor of Economics at Harvard University in Cambridge, Massachusetts. Professor Barro is also a senior fellow of the Hoover...

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February 19, 2009

Around dawn this morning, California approved its budget. Locked down until one more vote could be found to support the compromise package, and facing the suspension of construction projects today unless cash was found, it finally happened when Sen. Abel Maldonado (...

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February 18, 2009

As Maryland considers its membership in the Streamlined Sales Tax Project (SSTP), the Tax Foundation has submitted testimony on the subject. Click here to read it; below are some highlights:

  • The SSTP has its merits, but it also neither a source of free money nor non-controversial.
  • In 1992, in Quill Corp. v. North Dakota, the U.S. Supreme Court reaffirmed that the power of states to impose taxes...
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February 18, 2009

While state budget eyes are on California, where a budget impasse remains unresolved, Kansas yesterday reached a budget agreement whereby Democrats agreed to reduce spending and Republicans agreed to permit borrowing from other state...

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February 17, 2009

After a decade of spending beyond tax revenues, California inched closer last week to a budget deal, as we covered here and here. The deal would raise the income, sales, gasoline, and...

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February 16, 2009

New York Governor David Paterson may have abandoned hope of enacting his tax on non-diet soda drinks, experts are still weighing in on its merits. New York Health Commissioner Richard Daines has received over 60,000 hits on...

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February 13, 2009

Here are some charts about how the California budget compromise will change some key taxes.

...

Personal Income Tax

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February 12, 2009

The Kentucky House voted 66-34 yesterday to raise the cigarette tax by 100% and extend the sales tax to liquor sales in stores (while preserving the separate excise tax on liquor). Officials hope the increases will raise $211 million through the end of fiscal year 2010.

Notwithstanding self-serving claims...

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Subscribe to Tax Foundation - Tax Foundation's Tax Policy Blog 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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