The Tax Policy Blog

November 14, 2008

The National Association of Realtors, our favorite lobby here at the Tax Foundation, is pressuring its members to urge Congress to steal on its behalf more from taxpayers. Here's the organization's four-point plan:

NAR has urged Congress to include the following provisions in any future legislation:

  • Make the $7500 tax credit available to all purchasers and eliminate the...
Continue Reading...
November 13, 2008

Polk County TNPhoto credit Dan Lehr

Earlier this week, the Tennessee Court of Appeals ruled that Polk County, Tennessee's tax on whitewater rafting (a key...

Continue Reading...
November 13, 2008

So the auto industry is in trouble, as it has been for about the last decade for a variety of reasons. So what's the solution? Loans, of course, from the taxpayers, and as always when a politician is seeking ways to subsidize an industry in a way that doesn't look like spending, handouts via the tax code. Daily Tax Report reports that Sen. Barbara Mikulski (D-MD) is proposing two new tax breaks for the auto industry relating to the consumption side (so it won't look like a handout...

Continue Reading...
November 13, 2008

Washington D.C.'s Metro transit agency continues its second day of negotiations with Belgian bank KBC Group, although they reportedly have stalled. The parties will appear again before Judge Rosemary M. Collyer tomorrow.

Bond Buyer wrote up an excellent piece on the transit agency/SILO situation...

Continue Reading...
November 12, 2008

Attorneys for DC's transit agency appeared before a federal judge today seeking an injunction preventing a Belgian bank from obtaining $43 million in termination fees:

The hearing, before U.S. District Judge Rosemary Collyer, is being watched by transit agencies and other public entities across the country. Many of them entered into similar deals years...

Continue Reading...
November 11, 2008

Business owners and activists in Allegheny County, Pennsylvania, which includes the Pittsburgh metro area, have been fighting the county’s controversial drink tax for months. The 10% tax on drinks served in the county, along with a $2 per day car rental tax, was authorized last year with the purpose of providing $32 million annually in matching funds to Port Authority Transit, the company that provides mass transportation for the county. Groups like Friends Against...

Continue Reading...
November 11, 2008

A USA Today story gives readers a good idea why state governments are falling short of revenue -- they're spending even faster now than they were a year ago when the economy was doing much better. From reporter Dennis Cauchon's story:

Even as the economy slides into recession, many state and local governments continue to spend freely and expand their workforces.

...
Continue Reading...
November 10, 2008

While Californians are mulling Governor Arnold Schwarzenegger (R)'s proposed sales tax increase into double-digit territory (see here and here), on Thursday he also came out with a proposal to hike taxes employers pay into the unemployment insurance fund:

Businesses currently are taxed on the first $7,000 a year that an...

Continue Reading...
November 10, 2008

From today's Washington Post:

President-elect Barack Obama plans to push ahead with a middle-class tax cut soon after taking office, his choice for White House chief of staff said yesterday.

Rahm Emanuel also hinted that Obama would not postpone a tax increase for families earning more than $250,000 a year despite the deepening economic gloom...

Continue Reading...
November 07, 2008

Tax Foundation President Scott Hodge was interviewed by Don Irvine, Chairman of Accuracy in Media, on their podcast. Hodge and Irvine discussed everything from ballot initiative results to corporate taxes.

Where else is Tax Foundation material landing in the blogosphere?

  • Before the election, ...
Continue Reading...
November 07, 2008

A reader points us to two ballot initiatives hiking taxes on parking lots and rental cars in San Mateo County, California that failed on Tuesday. Measure Q would have imposed an 8% gross receipts tax on commercial parking facilities (San Francisco International Airport is located in San Mateo County),...

Continue Reading...
November 07, 2008

Yesterday we discussed California Governor Arnold Schwarzenegger (R)'s proposal to raise the state's sales tax by 1.5 percentage points. His office's statement described the current tax rate as "5 percent" and the increased rate as "6.5 percent."

This is misleading because the lowest sales tax rate in California is 7.25 percent, with many areas paying a half-point or full point more, and at least one area (South Gate, CA) hitting 9.25...

Continue Reading...
November 06, 2008

During the summer, Governor Schwarzenegger proposed a temporary sales tax hike to close the expected budget gap, but he settled for other reforms when opposition was fierce to raising the state's highest-in-the-nation sales tax. Now budget projections show a larger gap, so he's back, this time with a larger tax hike.

Instead of an additional 1 percent, he wants 1.5 percent, a hike that...

Continue Reading...
November 05, 2008

When people know that tax increases are imminent, they often change their financial arrangements, especially the timing of large payments, sales or investments. We are already seeing that in the sports world as agents consider the advantage of acting before an Obama tax hike takes effect. Here's the AP story.

Those sports agents are worried about wage tax rates going up, but historically the biggest changes occur...

Continue Reading...
November 05, 2008

All results are unofficial and subject to change.

Raising and Repealing Taxes and Non-Tax Taxes

  • Arkansas's Constitutional Amendment 3, which would establish a state lottery (Arkansas is one of eight states without a lottery), passed 63%-36%.
  • California had a number of county and regional sales tax increases and extensions for transportation, each of which required a two-thirds vote to...
Continue Reading...

Pages

Follow Us

About the Tax Policy Blog

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.

Monthly Archive