State Budget and Tax Archive
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Policy Basics: Property Tax Caps
December 18, 2008
The property tax is a major source of funding for public safety, schools, roads, libraries, and other services in most American communities. In recent decades, concern over rising property tax bills has led a number of states to impose some form of limit on the amount of property tax revenue … -
State Revenues Plummet
Updated November 12, 2008
Newly available data compiled by the Rockefeller Institute of Government show conclusively that state revenue dropped sharply in the July-September 2008 quarter, creating large, additional state budget shortfalls.[1] All indications are that revenue collections will worsen further in coming months. Of the 42 states for which … -
Video: Iris Lav, Deputy Director, on State Tax Revenues, NBC Nightly News
November 9, 2008
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The Impact of State Income Taxes on Low-Income Families in 2007
October 29, 2008
Poor families in many states faced substantial state income tax liability for the 2007 tax year. In 18 of the 42 states that levy income taxes, two-parent families of four with incomes below the federal poverty line were liable for income tax. In 15 states, poor single-parent families of three paid income tax in 2007. And 26 … -
Press Release: Many States Tax Working-Poor Families Deeper Into Poverty
October 29, 2008
Poor families faced income tax bills that pushed them deeper into poverty last year in nearly half of the states with an income tax, according to a new report from the Center on Budget and Policy Priorities. Income tax bills on poor families in those 18 states range from a few dollars to several … -
Video: Testimony of Iris J. Lav on "Economic Recovery: Options and Challenges"
October 20, 2008
Hearing Titled: “Economic Recovery: Options and Challenges” There are 29 states that closed shortfalls of $48 billion in enacting their fiscal year 2009 budgets (for the year beginning July 1, 2008 in most states). The shortfalls equaled 9 percent of these states’ general fund (operating) budgets. Since fiscal year 2009 budgets … -
Video: Nicholas Johnson, Director of the Center's State Fiscal Project, speaks about state budget problems, and answers questions from call-ins on C-SPAN's Washington Journal Program
October 18, 2008
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States Face Two Immediate Financial Issues: Short-Term Borrowing and Big Budget Deficits
Updated October 10, 2008
States face two distinct financial problems right now. First, California and Massachusetts officials last week raised concerns about their states’ ability to access credit markets for short-term borrowing. Second, most states have been facing budget deficits that have forced, or … -
State Earned Income Tax Credits: 2008 Legislative Update
Updated October 8, 2008
Twenty-four states (counting the District of Columbia) have enacted an Earned Income Tax Credit (EITC), a tax reduction and a wage supplement for low- and moderate-income working families. State EITCs are based on the federal EITC, which a large body of evidence has shown to serve a number of important public policy goals. States … -
Video: Nicholas Johnson, Director of the Center's State Fiscal Project, speaks about state budget on CNN's Lou Dobbs
October 3, 2008
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House Stimulus Plan Effectively Targets Fiscal Relief to States
September 26, 2008
The House Leadership’s new stimulus proposal includes more than $14 billion in fiscal relief for states. This is designed to help states avert budget cuts and tax increases that they otherwise will have to institute to balance their budgets but that will make the economic downturn worse by withdrawing demand from the … -
Key Components of House and Senate Economic Recovery Packages Would Boost the Economy and Provide Needed Relief to Struggling Families
September 26, 2008
Congress is properly focused on designing an appropriate measure to address very serious problems in the financial markets, which many experts persuasively argue is essential to help avert a meltdown in the financial markets and a potentially severe recession. The problems in the financial sector, however, are not the only ones the … -
North Dakota's Measure 2 is Imbalanced and Would Harm Efforts to Secures State's Economic Future
September 18, 2008
North Dakota’s proposed Measure 2, a major change to the state’s income tax that will appear on the November ballot, would be detrimental to the state for three principal reasons: Measure 2 is risky and short-sighted. Measure 2 would cost the state a very large amount of revenue — some $400 million per … -
Press Release: “Measure 2” Would Set up North Dakota for Future Bust, Not Long-Term Growth
September 18, 2008
A ballot measure to cut taxes that North Dakota voters will consider this November could create major budget problems and hamper investments needed for long-term economic growth, according to a new report by the Center on Budget and Policy Priorities, a nonpartisan policy research organization based in Washington, DC. The measure is among the most radical such … -
Bonus Depreciation Tax Cut Unlikely To Provide Effective Economic Stimulus
September 10, 2008
Stimulus legislation enacted in February included a provision that increased the tax deduction which businesses can claim when they purchase certain types of equipment and place it in service during the 2008 tax year. Suggestions are being made that this “bonus depreciation” provision — a form of accelerated … -
Caution: the Tax Foundation's State and Local Tax Rankings are Unreliable
Revised August 13, 2008
As it has annually for several years, the Tax Foundation has attempted to measure the current impact of state and local taxation on the residents of each of the 50 states. And once again, the results are very different from the Tax Foundation’s own previous attempts to do this calculation. The Tax Foundations figures — both the … -
Property Tax Limitation in the Senate Housing Bill is Unnecessary, Impractical, and Likely to Cause Harm
June 23, 2008
Legislation that the Senate is considering in response to the ongoing foreclosure crisis (H.R. 3221) includes a provision that would allow non-itemizers to deduct property taxes up to an amount of $500 for an individual and $1,000 for a couple.[1] It would deny the deduction, however, to residents of any locality that raises its … -
Suozzi's Statement Ignores Truth About Massachusetts' Property Tax Cap
May 28, 2008
On May 21, the Center on Budget and Policy Priorities released a report, “Hidden Consequences: Lessons from Massachusetts for States Considering a Property Tax Cap.” The same day, Thomas Suozzi, the Chairman of New York’s Property Tax Relief Commission, issued a … -
Press Release: New York Shouldn't Look to Massachusetts as a Model for Property Tax Reform, Report Shows
May 21, 2008
With New York’s Commission on Property Tax Relief planning to recommend that the state impose a rigid cap on property taxes for education based on Massachusetts’ Proposition 2 ½, a new report from the Washington, D.C.-based Center on Budget and Policy Priorities describes the problems the law has … -
Eliminating Louisiana's Income Tax Will Harm the State's Budget Outlook, Competitiveness
Revised May 12, 2008
On April 29, the Louisiana Senate voted to phase out the state’s income tax over 10 years without proposing any replacement revenues. The House Ways and Means Committee is expected to consider this proposal, along with others that would significantly cut the income tax but not eliminate it, on Monday May 12. The desire to cut … -
How Much Would a State Earned Income Tax Credit Cost in 2009?
May 5, 2008
Twenty-three states have enacted tax credits for low- and moderate-income working families based on the federal Earned Income Tax Credit. A number of additional states are considering enacting EITCs in the 2008 legislative session. The following provides guidelines that policymakers and others can use to estimate … -
Video: CNN Features Elizabeth McNichol on Rising Income Inequality
April 23, 2008
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Fixing TABOR's "Ratchet" Will Not Repair TABOR
April 10, 2008
Proponents of adopting a tight TABOR limit in Florida sometimes claim that Florida would not experience the same negative effects on the economy and public services that occurred in Colorado. They argue that Colorado’s problems stemmed entirely from one feature of its TABOR, the so-called “ratchet.” (The ratchet, … -
State Fact Sheets: Income Inequality Over the Past Two Decades
April 9, 2008
Income Inequality Within the States: Ratio: Incomes of Top Fifth of Families Compared to Incomes of Bottom Fifth of Families State-specific fact sheets containing information on income inequality over the past two decades, including the changes in average incomes and income ratios, are provided through the links below. … -
Pulling Apart: A State-by-State Analysis of Income Trends
April 9, 2008
I. Executive Summary A state-by-state examination of trends in income inequality over the past two business cycles finds that inequality has grown in most parts of the country since the late 1980s. The incomes of the country’s highest-income families have climbed substantially, while middle- and lower-income families have … -
Press Release: Income Inequality Grew in Most States Over Past Two Decades
April 9, 2008
The gap between the richest and poorest families, and between the richest and middle-income families, grew significantly in most states over the past two decades, according to a new study by the Center on Budget and Policy Priorities and the Economic Policy Institute. In fact, the nation’s … -
Press Release: Mississippi's Income Inequality Among Nation's Worst
April 9, 2008
The gaps between the incomes of the rich and the poor, and the rich and the middle class, have grown more in Mississippi since the late 1990s than in any other state, according to a new study by the Center on Budget and Policy Priorities and the Economic Policy Institute, two Washington, DC-based … -
Video: CNN Reports on the Center's Income Inequality Analysis
April 9, 2008
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Press Release: Most Large Iowa Manufacturers Already Comply With Proposed Corporate Tax Reform in Other States
April 3, 2008
Almost all major Iowa manufacturers maintain facilities in other states that have adopted a corporate tax reform measure known as “combined reporting” — including several outspoken opponents of Governor Culver’s proposal to adopt combined reporting in Iowa, according to … -
Almost All Large Iowa Manufacturers Are Already Subject to "Combined Reporting" in Other States
April 3, 2008
For the second year in a row, Governor Chet Culver has recommended that the Iowa legislature enact an important reform in the state corporate income tax known as “combined reporting.” Some Iowa corporations have opposed this change, claiming that it would result in some companies leaving the state or shunning Iowa for … -
Statement by Iris Lav, Deputy Director, on Provision in Bipartisan Senate Housing Package Affecting Local Property Taxes
April 3, 2008
While the Senate housing package would establish a new property tax deduction for non-itemizers, a little-noticed provision of the bill would deny the new deduction to any resident of a locality that raises its property tax rate between April 2 and next January 1. By preventing localities from … -
A Response to Americans for Prosperity's Misleading Claims About Florida's TABOR (CP 45)
March 25, 2008
Americans for Prosperity recently issued a critique of the Center on Budget and Policy Priorities’ analysis of the Florida Taxation and Budget Reform Commission’s revenue cap proposal. In its critique, Americans for Prosperity made several false claims. This analysis addresses the major flaws in their critique. There is no disagreement between the Center and Americans for Prosperity about the large size of the … -
Press Release: Commission's Revenue Cap Proposal Would Require Cuts in Education, Health, and Safety, and Harm Business Climate
March 21, 2008
Florida would likely suffer significant cuts in education, public health, public safety, infrastructure and other priorities under the revenue cap proposal the Taxation and Budget Reform Commission will consider on Wednesday, March 26, according to the Washington, DC-based Center on Budget and Policy Priorities (CBPP). The constitutional … -
The Tax Commission's TABOR: A Path to Deterioration in Florida
March 21, 2008
The Taxation and Budget Reform Commission will soon consider placing an amendment on the ballot to tightly limit revenue growth for state and local governments.[1] This proposal, CP 45, deserves a great deal of attention because it shares the fundamental characteristics of Colorado’s Taxpayer Bill of Rights (TABOR): it is a … -
Policy Points: Four Helpful Hints for States Dealing With Deficits
March 12, 2008
States, facing their worst fiscal problems in five years, should consider the following four policy options when dealing with deficits: (1) protect their revenues from the effects of federal tax changes, (2) tap their "rainy day funds," (3) don't rule out revenue increases, and (4) avoid "stimulus" tax cuts. At least 25 states, including several of the … -
Accounting for the Cost of Retiree Health and Other Benefits (GASB 45)
March 11, 2008
New rules issued by the Governmental Accounting Standards Board (GASB) that change the way states account for the future cost of health and other non-pension benefits for retirees will force states to make some hard choices. For the first time, state and local governments must treat the costs of health and other non-pension … -
Administration’s Medicaid Regulations Will Weaken Coverage, Harm States, and Strain Health Care System
Revised March 4, 2008
Over the last year, the Department of Health and Human Services (HHS) has issued a series of Medicaid regulations that could significantly affect health care at the state and local level. [1] These regulations, most of which alter longstanding Medicaid policies, do not require congressional approval. In fact, in some cases Congress … -
Economic Data Can be Used to Target State Fiscal Relief Effectively
March 3, 2008
States are experiencing major budget problems; more than half faced or are projecting deficits for the 2009 fiscal year. To meet their balanced budget requirements, many states have had to raise taxes and/or cut expenditures for services such as health care and education — actions that deepen the nation’s economic problems and offset some of … -
Fiscal Stimulus at the State Level?
February 29, 2008
Policymakers in many states are proposing tax cuts or rebates that they hope will “stimulate” their economies. Such proposals have been issued by governors and/or leading legislators in Alabama, Arizona, Connecticut, Florida, Illinois, Pennsylvania, and Wisconsin, among others. The proposals vary, but many are modeled at … -
Idaho is the Only State to Exclude Low-Income Families From Its Grocery Tax Credit
February 28, 2008
Idaho is one of seven states that taxes groceries at the same rate as other goods. It is one of five states that offer a credit or rebate to mitigate the tax. But even though the tax falls most heavily on low-income families, Idaho—unlike any other state—excludes many poor families (mostly working families) from … -
New Federal Law Could Worsen State Budget Problems
Revised February 28, 2008
The federal “economic stimulus” package enacted on February 13 not only cuts federal taxes, but also threatens to reduce many states’ corporate and personal income tax revenue this year and next year. The potential revenue loss comes at a particularly problematic time for states, because about half the states … -
Press Release: Idaho Stands Alone in Denying Grocery Tax Credit to Those Who Need it Most
February 28, 2008
With a slowing economy increasing the threat of hunger for many Idaho families, lawmakers should extend the state’s grocery tax credit to those who need it the most, according to a new report from the Washington, DC-based Center on Budget and Policy Priorities. Such action would undo a dubious … -
Is It Raining Yet? Yes, and It’s Time for Many States To Use Their Rainy Day Funds
February 21, 2008
Executive Summary After they emerged from the fiscal crisis earlier in the decade, many states began preparing for the next economic downturn by setting aside “rainy day funds,” or reserve accounts designed for use when revenues decline or expenditures increase unexpectedly because of downturns, natural disasters, or other events. A rainy day fund serves … -
Using Income Taxes to Address State Budget Shortfalls
February 21, 2008
States are on the brink of their worst fiscal problems since the 2001 recession. At least half the states are anticipating budget shortfalls for next year (fiscal year 2009). For those states that have estimated the size of the gap, estimated deficits range from $34 billion to $38 billion in total. Among affected states, … -
State Low-Income Tax Reflief in the Absence of an Income Tax
Revised February 14, 2008
Most states target tax relief to low- and moderate-income households. In part, this is because without such relief, state and local taxes would absorb a much larger share of the income of poor and near-poor families than of families at higher income levels. This is particularly true in states that do not use a personal income tax, … -
Federal Grants to States and Localities Cut Deeply in Fiscal Year 2009 Federal Budget
February 4, 2008
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 … -
29 States Faced Total Budget Shortfall of at Least $48 Billion in 2009
January 15, 2008
For the most up-to-date information on state budget shortfalls, please view our newer analysis: "State Budget Problems Worsen: 13 States Face New Shortfalls" At least 29 states plus the District of Columbia, including several of the nation’s largest states, faced …
