When state budgets are strong, lawmakers should put those revenues toward building a stronger and more inclusive society for the long haul. Yet, many state lawmakers have made clear that their top priority is repeatedly cutting taxes for the wealthy.
Tax Cuts
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blog April 12, 2023 Deep Public Investment Changes Lives, Yet Too Many States Continue to Seek Tax Cuts
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blog April 3, 2023 It’s the Revenue Shortfall, Stupid
Lawmakers have repeatedly stepped on the same rake of slashing tax rates and expecting revenues to magically go up. Now they want middle-class Americans to be the ones who get hit in the face. The con is getting tired. If Congress wants to reel in the debt then it’s time to raise taxes on the wealthy.
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blog February 9, 2023 Why the States Have a Major Role to Play If We Want Tax Justice
With fears of gridlock in a divided Washington, tax justice champions are building momentum in other places where there’s dire need for better tax policy: the states. We can upgrade communities across the country by making 2023 a year to win tax improvements in statehouses.
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blog January 18, 2023 State Lawmakers Should Break the 2023 Tax Cut Fever Before It’s Too Late
Despite mixed economic signals for 2023, including a possible recession, many state lawmakers plan to use temporary budget surpluses to forge ahead with permanent, regressive tax cuts that would disproportionately benefit the wealthy at the expense of low- and middle-income households. These cuts would put state finances in a precarious position and further erode public investments in education, transportation and health, all of which are crucial for creating inclusive, vibrant communities where everyone, not just the rich, can achieve economic security and thrive. In the event of an economic downturn, these results would be accelerated and amplified.
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blog January 13, 2023 GAO Report Confirms: Trump Tax Law Cut Corporate Taxes to Rock Bottom
A new report from the Government Accountability Office finds the average effective federal income tax rate paid by large, profitable corporations fell to 9 percent in the first year the Trump tax law was in effect, and the share of such companies paying nothing at all rose to 34 percent that year.
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blog October 26, 2022 Measures on the November Ballot Could Improve or Worsen State Tax Codes
In a couple of weeks, voters in a handful of states will weigh in on several tax-related ballot measures that could make state tax codes more equitable and raise money… -
blog July 22, 2022 Most States Used Surpluses to Reduce Taxes But Not in Sustainable or Progressive Ways
The average person on the street would have no idea that many states experienced unprecedented budget surpluses this year. Iowa, for instance, has the most structurally deficient bridges of any… -
blog June 10, 2022 Rising Prices: Another Reason to Be Wary of Tax Cutting Right Now
Many state lawmakers see any economic challenge as an excuse to cut taxes and in 2022, some are citing inflation as a reason to do so. All eyes today are…