The August 2006 issue of Budget & Tax News reports that the federal budget deficit has fallen more than 16 percent over the past year, in a period of tax rates cuts and high levels of government spending. An interview with Daniel Clifton of the American Shareholders Association helps explain why.
Also on page 1:
- a superior court judge in Snohomish County, Washington said he believes the state exceeded its constitutional spending limit;
- Oklahoma lawmakers approved a $600 million tax cut--the largest cut in the state’s history--while passing a record $7 billion budget; and
- two free-market public policy groups succeeded in wresting from the National Association of Attorneys General details of a secret ruling on the nationwide tobacco settlement.
Also in this issue: fraud and abuse in hurricane disaster relief spending, abusive union spending, prevailing wage reform, spending limits proposed for New York, a $1.8 billion end to New Jersey’s budget stalemate, online gambling, Illinois stalled lottery sale, pro-taxpayer reforms in Rhode Island, and more. This issue also offers a four-page feature on telecom reform.
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