As legislatures returned to session and governors delivered their “state of the state” addresses, tax and budget matters remained at the top of most political agendas ... and a top priority for Budget & Tax News as well.
On the “good news” side of the ledger, the March issue leads with Oregon voters’ dramatic rejection of an $800 million tax hike passed by the state legislature in August 2003. The issue also covers Georgia Gov. Sonny Perdue’s annual address, in which he touted spending restraint and no new taxes; President George W. Bush’s ongoing commitment to permanent tax cuts; California Gov. Arnold Schwarzenegger’s plan to review outsourcing to the private sector as a budget-cutting tool; Kansas State Sen. Kay O’Connor’s effort to block a billion-dollar tax increase called for by a District Court judge; and efforts in Illinois to impose property tax caps.
The jury remains out on Nebraska Gov. Mike Johanns’ balanced budget--and property tax hike proposal; Illinois Gov. Rod Blagojevich’s plan to take over K-12 education; and Michigan Gov. Jennifer Granholm’s budget compromise.
This issue carries the final installment in our three-part series on tax and expenditure limitation (TELs) and also covers key state tax issues that will be taken up by Congress; how Democratic Presidential candidates would increase federal budget deficits, and how the Democrats are wrong about corporate income taxes in the U.S.; mixed results from Nevada “sin” taxes; Cook County, Illinois’ near-final approval of a 450 percent cigarette tax increase; movement toward high-occupancy toll (HOT) lanes in seven states; tax fairness versus tax morality; and more.
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