Lunch Links: House GOP Tax Plan; Eastern States Try Vehicle Miles Tax; Maine to Vote on Marijuana and Income Tax
June 27, 2016
Today is June 27, the 86th birthday of Ross Perot, who ran for President as an independent in 1992 and received 19 percent of the vote. His platform was an interesting mix of left and right, with calls for entitlement reform, opposition to NAFTA, and avoiding social issues. On tax policy, Perot advocated raising the top income tax rate from 31 percent to 33 percent, applying the 2.9 percent Medicare payroll tax to all income, and hiking the gasoline tax to 64 cents per gallon over five years. (The top income tax rate went up even further and is now 39.6 percent; the expanded Medicare tax took effect under Clinton; the gasoline tax went up a bit under Clinton but sits at 18 cents a gallon.)
Here are some interesting links I came across:
- Details of the House GOP Tax Plan: My colleague Scott Greenberg breaks it down. (Tax Foundation)
- Democrats Attack House Tax Plan: Minority Leader Nancy Pelosi said it’s a “massive tax giveaway to millionaires and billionaires on the backs of hard-working American families” and the AFL-CIO said it has a “striking resemblance” to Donald Trump’s tax plan. (Reuters)
- Four States Seek Vehicle-Miles-Traveled-Tax Experiment: Connecticut, Delaware, New Hampshire, and Pennsylvania are jointly seeking a federal grant to test the program with 200 volunteers. The VMT tax charges drivers by mile, rather than by gallon of gasoline purchased. (Washington Post)
- Maine to Vote on Income Tax Increase, Legalizing and Taxing Marijuana: The income tax increase, to 10.15 percent, would make it the second highest in the country. The marijuana tax rate would be 10 percent. Both will appear on the November ballot, along with initiatives to establish ranked-choice voting, raise the minimum wage, require gun background checks, and borrow $100 million for transportation. (Bangor Daily News / Maine Secretary of State)
- Oklahoma Sales Tax Increase Opponents File Court Challenge: The opponents claim the increase, to appear on the November 8 ballot, is misleadingly described. (NewsOK)
- Republicans Narrowly Win Congressional Baseball Game, 8-7: The win broke the Democrats’ seven-game winning streak. (Roll Call)
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