Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
State revenue collections are returning to earth after several years of high budget surpluses. In many cases, they used the unexpected funds for one-time investments and to shore up reserve funds.
Vice President Kamala Harris proposed a $40 billion “housing innovation fund” to help local governments build more affordable housing. It could be a potential break from most federal housing assistance programs, which are tightly defined.
Revenue growth over three years outpaced earlier trends and fueled new spending, but has since pulled back. What does it mean for the future of state budgets?
Presidents who used to run states sometimes stiff them when it comes to making policy.
A boost in federal highway money has helped states break ground on new projects, some of which have languished due to a shortage of funding.
Pandemic money from Washington stimulated the economy but arguably ended up feeding inflation. Before the next downturn, governors, mayors and public financers need to be part of the conversation about how to open the countercyclical aid spigot quicker — and when to shut it off.
California officials have warned students for years that for-profit schools may make misleading career claims, leaving them with “a mountain of debt” but no job. Still, many for-profit schools remain on the state’s list of recommended job training programs.
The Food Distribution Programs on Indian Reservations and other federal commodity food programs have faced shortages due to reliance on a single provider. For many Native American households, FDPIR is their only food source.
The state’s ballot measures are just two of nearly a dozen from across the nation that aim to reduce taxes for some or all property owners. One Colorado initiative would cap annual state property tax revenue growth at 4 percent.
The Inflation Reduction Act includes tax credits that reimburse governments for clean energy investments. New online resources make the program more understandable and accessible.
The continuing injustice of Flint should be a wakeup call. With billions flowing from Washington and millions of lead pipes still in place across the country, now is the time to establish access to clean water as a human right.
States can compensate with vehicle and odometer taxes, but local governments can harness new data technologies — including GPS, 5G and AI — to meet the need for more than states’ hand-me-down dollars.
They don't do much to generate economic activity, often hurt taxpayers they’re intended to help, inject instability into revenue streams, and create administrative and compliance costs for businesses, governments and consumers.
The Department of Housing and Urban Development will change its rule that treated service-related disability benefits as income. Now disability compensation will be counted just for income to calculate the amount vets must pay for rent.
As billions flow from Washington to extend fast and reliable Internet to underserved areas, policymakers should rely on the experienced, established providers that already know how to get this difficult job done.
Federal aid helped states and localities cope with the biggest costs of the pandemic. But good things don’t last forever, and this one didn’t.
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