Lunch Links: Trump, Clinton Tax Plans Ignite Heated Debate; Transportation Issues Latest Setback to Passing Nevada Tax for NFL-Ready Stadium; Cooperation on Mutual Transportation Funding Derailed by Maryland-Virginia Governors

October 14, 2016

Today is October 14, the 126th birthday of President Dwight Eisenhower (1890-1969). After a successful military career in World War II, Eisenhower as president (1953-1961) focused on challenging the Soviets in the Cold War while avoiding open conflict, restraining the growth of the federal government and keeping the budget in balance, and progress on civil rights. Except for the first two years of his administration, Eisenhower governed with a Democratic Congress. His tax policy included a complete overhaul of the tax code (1954) but generally resisting tax reductions unless spending could be cut. (He did argue, in a quaint campaign ad by today’s standards, that taxes break our backs.)

Eisenhower also received the Tax Foundation’s Distinguished Service Award twice, in 1950 while serving as president of Columbia University, and in 1960 while President.

Here are some interesting links I came across:

Treasury Department Issues Revised Tax Law on Capital: 518 pages of new rules were released, to take effect in three months. (Roth & Co. CPA)

Sparks Fly at Tax Policy Center Forum: Representatives of the Clinton and Trump campaigns opined on their tax policies at a forum yesterday, where the Trump representative accused the Tax Policy Center of bias and malfeasance for not scoring trade policy changes. (Washington Examiner)

The Mystery of Clinton’s Corporate Tax Plan: Richard Rubin at The Wall Street Journal reminds us that Clinton’s economic plan has a $275 billion revenue gain from corporate tax reform with no details or further explanation. (The Wall Street Journal)

Carson Says Use Common Sense on Taxes: The former Republican candidate and current surrogate for Trump said “throw the economists out” for their criticism of the debt effects of Trump’s tax plan. (MSNBC)

Nevada Stadium Tax Gets Transportation Bad News: After debating all day the proposal to raise hotel taxes to fund an NFL-ready stadium in Las Vegas, members of the Nevada Assembly learned that the region needs $899 million of freeway improvements if the stadium gets built. Most are already planned and just need to be accelerated, but one major one isn’t yet funded: $100 million to extend the monorail and an unknown amount to build a pedestrian bridge to connect the new station to the stadium. (Las Vegas Review-Journal)

Maryland and Virginia Disagree on Bridge Funding but United on Metro Funding: Virginia Gov. Terry McAuliffe (D) says a new bridge connecting his state with Maryland is needed, but since the Potomac River it crosses is entirely in Maryland (the border is on the western shore of the river), his state won’t pay for any of it. Maryland Gov. Larry Hogan (R) disputes that a new bridge is needed and pointed to other priorities such as a Chesapeake Bay bridge. Both governors, however, shut down the idea of a new half-cent or 1-cent sales tax to fund Metro in the D.C. area. (Bethesda Magazine / WTOP)

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