Georgia state Rep. Ron Stephens (R-Savannah) wants to raise the state’s cigarette tax by a dollar per pack in order to help close the state’s $1.5 billion budget deficit.
The U.S. Environmental Protection Agency’s proposed guidance for regulating greenhouse gas emissions was released in mid-November and is set to go into effect on January 2, 2011.
The current public outrage over bailouts, excessive spending, and a staggering national debt are helping fuel the push for a federal balanced budget amendment.
States are increasingly looking to soda, candy, and other so-called “fat” taxes as a way to shore up their budgets.
The current capital gains tax rate of 15 percent is set to increase substantially at the end of the year as the 2001 and 2003 tax cuts sunset.
One tax hike set to take effect January 1, 2011 unless Congressional action is taken is a 164 percent increase in the tax on dividends.