Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
The state will need to reform its antiquated tax code, warily approach bond measures that tie the hands of policymakers, and get serious about spending oversight.
The city wants to offer $100 million in pension obligation bonds, a move that both lowers pension debt and increases the funds’ earning power by providing more money to invest. But the sale is considered risky.
A $26 billion pharmaceutical settlement would resolve lawsuits by the state attorney general, counties and city governments across the state. But some officials don’t agree with the terms of the settlement and aren’t signing on.
An audit found the California Prison Industry Authority improperly provided nearly $1.3 million in gifts to other state agencies and encouraged the hiring and promotion of friends, relatives and other favored candidates.
The Michigan governor has proposed using $100 million in federal COVID-19 relief funds to build 2,000 affordable housing units across the state. The development would create housing for 6,000 residents and 1,600 jobs.
Small businesses need affordable commercial space. Federal stimulus funds offer the chance for local governments to get involved in a variety of ways — including becoming landlords themselves.
Due to high state tax collections and large amounts of federal aid, many state legislatures are experiencing massive budget surpluses. But some lawmakers want to start planning for the inevitable downturn now.
“We’re saying we cannot negotiate with you. It’s not legal for us to pay anything.”
The Washington state Legislature passed more than 300 bills last session and many of them become laws this weekend. From drug possession to education, here’s a snapshot of what’s new in the state.
Organizations across the state spent $25.9 million on lobbying efforts, a slight increase from two years ago. The top lobbying group was pharmaceutical companies; PhRMA alone spent nearly $1.3 million.
Over-reliance on fees, fines and forfeitures drives a wedge between police and the communities they serve. It's detrimental to both crime-solving and the profession of law enforcement.
The technology is taking root in the region, with states like Wyoming and Colorado opening doors to developers and agencies. But potential technical and regulatory barriers need to be addressed.
Washington is sending cities a gigantic fiscal gift. They have to produce results. The danger is that the money will be squandered. Republicans are watching all that generosity with skepticism.
The state capital has a modest-sized transit system, so taking out the farebox during the pandemic was easy and so far everyone likes the outcome. But making free bus service financially sustainable could be harder.
Congress should rewrite the ground rules to minimize nuisance lawsuits that can cost local taxpayers millions, while focusing civil courts on bad cops and blind-eye departments.
The county is beginning to develop plans for a new $500 million jail, but it remains unclear how officials will pay for the project. The building will be the most expensive and consequential in county history.
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