November 2004 Budget & Tax News

Issue Date: 
November, 2004
Newspaper PDF: 

The November 2004 issue of Budget & Tax News reports the U.S. Supreme Court will decide the constitutionality of local governments using eminent domain to aid private developments in order to generate more tax revenue.

The eminent domain case comes from New London, Connecticut, where 15 homes are being threatened with eminent domain to make way for a private development that promises to bring in more jobs and taxes for the city. "We have to restore the meaning of public use to what everyone once understood the term to mean--something the public would own and use, such as a road. Economic development is not a public use," noted Scott Bullock, senior attorney at the Institute for Justice (IJ), which is representing the New London homeowners for free.

The issue also covers incumbent elected officials who lost primaries due to their support for tax increases; a federal appeals court rejection of tax incentives used by states across the country to retain businesses and attract new business investment; how a new proposal from Congressman Chaka Fattah (D-PA) could make the IRS obsolete; and "porker of the month" awards to Florida and Ohio elected officials.

Corporate tax reform; Bush, Kerry, and Congress's tendency to spend--and bust budgets; telecom deregulation, alcohol taxes, and TABOR; and state news from Florida, Michigan, New York, Virginia, and Wisconsin round out the issue.

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