Lunch Links: Speaker Ryan Lays Out Vision for Tax Reform; Compromise Part of Latest New Jersey Tax Proposal; Pennsylvania Legislators Target Reduction of 40 Percent E-Cigarette Tax; Rundown of Marijuana Ballot Propositions in Five States
September 21, 2016
Here are some interesting links I came across:
Speaker Ryan Speaks on Tax Reform: House Speaker Paul Ryan (R-WI) addressed the New York Economic Club on Monday to present his vision for tax reform. He was quizzed by audience member Peter Orszag, former CBO Director. (ThinkAdvisor)
Unfunded Pension Obligations Driving State Tax Increases: Maria Koklanaris of Tax Analysts does a deep-dive and finds that huge unfunded bills for state public employee pensions would require incredible tax increases. Officials in Illinois and Pennsylvania are already pushing for them. (Tax Analysts)
New Jersey Considers Gas Tax Compromise: The latest proposal would cut the sales tax by a half point, raise the estate tax threshold to $2.5 million, expand the EITC, exempt some pension income from taxation, and raise the gas tax. Previous proposals stalled on revenue concerns and discomfort with parts of the package. (New Jersey Spotlight)
Pennsylvania Film Credit Sponsor May Support Changes: State Sen. Wayne Fontana (D-Brookline) has championed his state’s film tax credit program for years, although news that the state is paying credits to companies who do no filming in Pennsylvania has him suggesting tightening up the criteria. (Pittsburgh Tribune-Review)
Pennsylvania May Stop 40 Percent E-Cigarette Tax: State Reps. Joseph Petrarca (D-Vandergrift) and Jeff Wheeland (R-Williamsport) are introducing bills to change or repeal the punitive tax on e-cigarettes that otherwise goes into effect on October 1. (State Tax Notes)
Marijuana Legalization on the Ballot in Five States: Ronny Kerr runs down the five states voting on legalizing and taxing marijuana in November (Arizona Proposition 205, California Proposition 64, Maine Question 1, Massachusetts Question 4, and Nevada Question 2). (Vator TV)
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