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ALEC on Hugh Hewitt: State Taxes Matter More Than You Know

Rich States, Poor States gives young people a great overview of how to keep more of their own money over the course of their career. The difference between a high tax and a low tax state can mean hundreds of thousands of dollars over someone's career.

Nationally syndicated radio host Hugh Hewitt broadcast live from the ALEC 49th Annual Meeting in Atlanta and highlighted some of the significant the tax and fiscal reforms adopted by states in recent years. ALEC Chief Economist and Executive Vice President of Policy Jonathan Williams spoke with Hewitt about how these reforms are making states more economically competitive.  Below are highlights from the conversation between Hewitt and Williams:

Hugh Hewitt: Let’s talk about the ALEC Rich States, Poor States report. I think young people ought to get this before they make up their decision on where to live and pursue a career when they come out of college or high school.  This information gives them a quick overview about where the future is.

Jonathan Williams: It certainly gives them a great overview of how to keep more of their own money over the course of their career. The difference between a high tax and a low tax state can mean hundreds of thousands of dollars over someone’s career. Let’s say you choose a no-income tax state, Texas or Florida or Tennessee versus New York or California, it’s a big deal.

Hugh Hewitt: This new spending bill out of Washington includes a 15% minimum corporate tax rate. How does this impact your rankings in Rich States, Poor States?

Jonathan Williams: The new law is federally focused, but,  given this administration and their war on states and federalism, maybe we shouldn’t give them any ideas to dictate to the states need to set minimum tax rates. That’s something that’s worried me for many, many years, whether it’s sales taxes or income taxes or any kind of state tax policy. Remember, it wasn’t that long ago that Janet Yellen and the Biden Treasury Department  was saying if states took the federal bailout money they couldn’t cut taxes back home. The federal government should be watched very carefully with any kind of these provisions saying states must or must not do anything with their own tax and fiscal policies.

Watch full interview below: