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Posts on State Budget And Tax
June 20, 2019

Delaware policymakers have another chance this year to enable thousands more working households to get the full value of the state’s Earned Income Tax Credit (EITC), even if it exceeds their income taxes. This change, to make the credit “refundable,” would help working families earning very low wages better meet their basic needs.

Many low-wage jobs...

Delaware, With Non-Refundable EITC, Has Higher Taxes on Lowest-Income Families
June 18, 2019

New Jersey Governor Phil Murphy has proposed shoring up his state’s finances with a new millionaires’ tax — a proven tool to raise revenues for vital investments, such as good public schools, while basing state tax codes more on the ability to pay. But legislative leaders...

Wealthiest N.J. Households Still Get Annual Tax Break Under Millionaires' Tax
May 29, 2019

To their credit, Connecticut lawmakers are considering a proposal to levy a modest 2 percent surcharge on capital gains of the wealthiest taxpayers, which would raise needed revenue, reduce inequality, and help the state’s economy.

Relatively few, mostly white, families hold an overwhelming share of the nation’s wealth, leaving millions of others, including those of color, with less...

Incomes of Wealthiest 1% in Connecticut Far Outpace Remaining 99%
May 29, 2019

Some states still provide much less K-12 funding per student than in the 2008 school year, when the Great Recession hit, according to new Census Bureau data and state budget documents....

K-12 Funding Still Lagging in Many States
May 22, 2019

Lawmakers in Connecticut, Minnesota, and Vermont are considering raising taxes on capital gains —profits from selling an asset that has gained value, such as stock, real estate, or artwork — while New Mexico this year scaled back a tax break for capital gains. Historically, wealthy (mainly white) individuals used their political power to shape state tax policies in ways that largely benefit...

Capital Gains Go Overwhelmingly to Wealthy Families
May 16, 2019

Sixty-five years after the landmark Brown v. Board of Education of Topeka decision that found racial segregation in schools unconstitutional, families and education advocates are still suing to compel states to uphold their education funding obligations. But policymakers could avoid court disputes altogether by ensuring the proper level and distribution of money in their K-12 budgets...

Children using computers
May 15, 2019

Millions of low-paid workers in Illinois, Maryland, New Jersey, and New Mexico will soon have higher wages and a better shot at economic success thanks to new state minimum wage increases.

In Focus: Wages for Low-Paid Workers Nearly Same as 40 Years Ago
May 1, 2019

Summer is often a time to repair and improve school buildings or finish building new ones, but the nation’s K-12 schools — especially in low-income neighborhoods — have been neglected for years. The coming onset of summer provides a timely reminder that states should move more forcefully to help address the need.

State cuts to K-12 education over the past decade have affected more than...

Capital Spending for K-12 Schools Well Below 2008 Levels
May 1, 2019

Update, July 12: we’ve updated this post.

I’ve noted that the new federal Opportunity Zone (OZ) tax incentive program will automatically cut state as well as federal taxes for individuals and corporations investing in distressed areas unless...

Stack of Bills
April 29, 2019

Update, July 12: we’ve updated this post.

With the IRS issuing investor-friendly draft regulations for the new Opportunity Zone (OZ) tax incentive program, investments in OZ investment funds will likely accelerate. Before they do, state lawmakers should...