Politico: The Problem for Energy States

The liberal Institute on Taxation and Economic Policy is out with a new paper arguing that energy-rich states cut corners and relied too heavily on their wealth of natural resources, instead of setting up tax systems based on more solid footing. States like Alaska and Louisiana, ITEP writes, showered tax cuts on both individuals and corporations while the energy boom was good. Still: “While lawmakers in energy-sector states have taken steps to close their revenue shortfalls, not nearly enough is being done to address the structural inadequacies driving the problem. Inaction or short-term fixes were too often a theme for energy-reliant states in 2016,” Aidan Russell Davis writes.