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Archives: Tax Reform / Articles (page 9)
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Americans Can Be Thankful for Tax Cuts
Since Congress passed the Tax Cuts and Jobs Act of 2017 (TCJA), Americans are getting a larger piece of the pie from federal tax cuts and ensuing state tax reforms…
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There’s No Better Time for Tax Reform in Virginia than the Present
The Tax Cuts and Jobs Act of 2017 marked the first federal tax reform in more than 30 years. However, Virginia has not made a significant effort to reduce the…
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Seattle Learned There’s No Brain Behind a Head Tax
In May, Seattle, Washington, enacted an employment head tax on large firms but then abruptly repealed the tax just weeks later after an alliance of businesses and labor unions voiced…
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Taxes Threaten Affordable Energy
Since 2013, new processes for extracting natural gas revealed a bountiful resource that burned cleaner, cheaper, and more efficiently than many alternatives. The natural gas boom has created thousands of…
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Bold Tax Relief and Pension Reform Agenda Earns South Carolina Governor McMaster Best of the Best Recognition
South Carolina Governor Henry McMaster is one of five U.S. governors with economic policy proposals qualifying as “Best of the Best” based on his 2018 State of the State address.
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Ohio State of the State
Governor John Kasich delivered his final State of the State address in an optimistic tone, exclaiming “I believe the state of Ohio is stronger today than it’s been in…
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Governor Walker’s State of the State: “Getting positive things done for the people of Wisconsin”
Wisconsin Governor Scott Walker delivered his 8th State of the State address in Madison, highlighting his “ambitious agenda” for the 2018 legislative session. Major areas of focus include education,…
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Trouble in Paradise: Hawaii Governor Ige Acknowledges Livability Concerns
The governor took note of several pressing concerns—energy, affordable housing, education, and income growth. However, many of his solutions threaten to aggravate the underlying problems.
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Louisiana State of the State: Governor’s Occupational Licensing Reform Proposal Could Generate Opportunity, but Support for Continued Cronyism and Excessive Spending Threaten Growth
Opening Louisiana’s 2018 regular session, Governor John Bel Edwards recently gave his third State of the State address. Jumping from the Medicaid expansion and tax policy to minimum wage and…
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North Dakota State of the State: A Hands-Off Approach Working for Economy
In his second State of the State Address, North Dakota Governor Doug Burgum declared, “The State of the State is one of unlimited promise and potential, provided that we…
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Oklahoma State of the State: Governor Fallin Delivers Stern Tax and Spend Message
Despite early promise of being a bold reformer, the governor now zealously possesses the tax and spend mantle. And the spending extends beyond education. She promises a cornucopia of spending courtesy of the tax hikes on “initiatives that each of you are passionate about.”
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Illinois State of the State: “We cannot tax and borrow our way into prosperity”
Governor Bruce Rauner focused largely on the financial stress plaguing Illinois during his 2018 State of the State Address and Budget Address. The Land of Lincoln is one…
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Minnesota State of the State
Governor Mark Dayton delivered his final State of the State address in a largely optimistic tone declaring, “Our number one priority should be tax fairness for individual Minnesotans and their…
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New Mexico State of the State: Governor Applauds Economic Diversification and Pushes for Comprehensive Tax Reform
The governor’s proposals for comprehensive tax reform, economic diversification, infrastructure spending prioritization, and education reform can generate longer-term opportunities. However, additional changes are needed. The state’s tort system and worker’s compensation costs remain economic drags. The relative lack of tax and expenditure limits and 8th highest number of state employees per capita contribute to a bloated state government.
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Alaska State of the State: Governor Calls for Expanded Energy Production along with Higher Taxes
Governor Walker's wholehearted support for a continued energy production renaissance, energy infrastructure development, and expanded international trade bode well for an Alaskan economic rebound. However, the continued advocacy for income taxes and sales taxes combined with lack of acknowledgement of much-needed operational reforms threatens to negatively counter those pro-growth actions.
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Wyoming State of the State: Fiscal Soundness Despite Setbacks in Energy Sector of Economy
Wyoming enjoys the 8th best economic outlook in the nation, according to Rich States, Poor States. This outlook has failed to translate into performance largely due to numerous macroeconomic factors and regulatory measures. The governor’s commitment to state regulatory reform, bureaucratic downsizing, and budget reform has resulted in the state weathering this storm with a strong balance sheet and low taxes. Rather than resort to higher taxes or centrally planned economic development, the continuation of a business-friendly climate is needed to incentivize further diversification and future growth of the economy.
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Utah State of the State: Acting Today with the Future in Mind
Even with the modest changes to property taxes and a possible increase in the gas tax, Utah’s overall pro-business status remains unrivaled. Economic growth and jobs growth over 10 years are 5th highest and 3rd highest, respectively. Perhaps Utah has indeed “become that shining city on a hill for our nation.”
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Pennsylvania Gov. Wolf’s Calls for Progress with “a Push”
Pennsylvania Gov. Tom Wolf’s Budget Address contained a strong undercurrent of authoritarianism. Progress, as defined by the governor’s dictionary, can sometimes “require a push.” Agenda items within the speech reveal…
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Washington State of the State: Governor Inslee Repeats Demand for Destructive Carbon Tax
In addition to a massive carbon tax, Governor Inslee called for workforce development initiatives, healthcare regulations, and myriad new social regulations. In aggregate, this big government agenda would impede the business climate and economic growth of the state.
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Connecticut Rises to 40th Place, But Not For the Reason You Might Expect
For the first time since 2011, Connecticut has escaped the bottom 10 of the 11th edition of the Rich States, Poor States ALEC-Laffer State Economic Competitiveness Index…