The February 2004 issue of Budget & Tax News reports solid improvement in the U.S. economy, which policy analysts say should help states ease out of their fiscal crises--provided they focus on curbing spending and resist the temptation to increase taxes. “The economic indicators are both good news and bad news,” explains Dan Mitchell of The Heritage Foundation. “The good news is that it makes tax increases less likely. The bad news is that it makes budgetary discipline less likely.”
This issue describes tax and budget activity in more than a dozen states, counties, and cities, including California, Minnesota, Missouri, Pennsylvania, Virginia; Cook County, Illinois; and Boston, Massachusetts and Oakland, California. The Pacific Research Institute offers advice on workers’ compensation reform for California, while Americans for Tax Reform warns Vermont’s Howard Dean is a “tax and spend” governor.
In part two of BTN’s three-part series on tax and expenditure limitations (TELs)Lew Uhler and Barry Poulson describe how Colorado got its TEL and how it is attempting to cope with recent challenges to that measure’s effectiveness. Wisconsin Rep. Frank Lasee outlines how the Dairy State would benefit from a TEL of its own.
Also in this issue: Slovakia adopts personal retirement accounts; Russia repeals its sales tax; Terry Savage reviews tax changes taking effect in the U.S. this year; former Congressman Dick Armey warns Congress is on a spending spree that will result in higher taxes; and more.
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