Federal-State Issues
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Press Release: House to Consider Restricting States’ Authority to Tax Corporate Profits
July 24, 2006
A bill expected to reach the floor of the U.S. House of Representatives tomorrow would strip states of their authority to tax a fair share of the profits of many corporations that are headquartered out of state but do business within their borders. Under the bill (H.R. 1956, “The Business Activity Tax Simplification Act”), large amounts of … -
Proposed Discretionary Caps Would Hit States Hard
July 5, 2006
The Senate Budget Committee on June 20 approved legislation (S. 3521) crafted by Budget Committee Chairman Judd Gregg (R-NH) that would make a number of far-reaching changes in the federal budget process.[1] Included in the legislation, which the full Senate may consider this summer, are provisions that would establish … -
Estate Tax "Compromise" Proposals May Endanger State Estate and Inheritance Taxes
Revised June 23, 2006
On June 22, the House of Representatives approved an estate tax proposal introduced by House Ways and Means Chairman Bill Thomas. While supporters of the proposal describe it as a “compromise,” it would in fact eliminate the vast bulk of estate tax revenue and has been more aptly characterized as “near repeal.… -
SCHIP Financing Update
June 5, 2006
The State Children’s Health Insurance Program (SCHIP), jointly financed by states and the federal government, provides comprehensive health insurance coverage to more than four million low-income children, most of whom would otherwise be uninsured.[1] In a prior analysis, we estimated that under current law, a number of states … -
Tax Cuts Proposed in President's Budget Would Ultimately Cause Large State Revenue Loses
March 16, 2006
When the federal government cuts taxes, those tax cuts sometimes cause reductions in state revenue as well. This occurs because most states with individual and/or corporate income taxes use the federal definitions of adjusted gross income and corporate income as the basis for their own income taxes. When a tax cut reduces the … -
The Administration’s Medicaid Proposals Would Shift Federal Costs To States
February 14, 2006
In its new budget, the Administration proposes net federal Medicaid funding cuts equal to $14 billion over the next five years and $35.5 billion over ten years through a combination of legislative changes and regulatory action. [1] These reductions follow on the heels of significant federal Medicaid cuts ($4.9 billion over five … -
Federal Grants to States and Localities Cut Deeply in Fiscal Year 2007 Federal Budget
February 7, 2006
Grants to state and local governments have long been an important way in which the federal government supports and administers programs efficiently. The new budget, however, continues to significantly erode those grants. This leaves states and localities the option of either curtailing services or increasing their own taxes to …
