Blog - State Policy
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State Rundown 1/4: Revenue Shortfalls, Gas Tax Changes Dominate Early Debates
January 4, 2017 • By ITEP Staff
This week we bring you updates on major revenue shortfalls looming in Nebraska, Oklahoma, and Pennsylvania, as well as gas tax changes taking effect in some states and being debated in others. — Meg Wiehe, ITEP State Policy Director, @megwiehe Oklahoma lawmakers are weighing options to close the state’s $870 million shortfall. Up for discussion are […]
The sharp decline in oil prices since summer 2014 has allowed consumers to save hundreds of dollars annually at the pump, but it also has left some energy producing states clamoring to come up with policy ideas to make up for lost revenue.
The New Jersey Legislature is considering a proposal to increase the state’s gas tax but at the same time some lawmakers are insisting that that tax increase be paired with tax cuts for the wealthiest New Jerseyans. Perhaps most bizarre is that the state is considering providing a tax cut for retirement and pension income (a move that would benefit the best-off state residents) while also weighing cuts to the revenue that funds state pensions.
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