Today on the Hill. The House and the Senate will go to conference over the multi-year highway bill. The House Budget Committee holds a hearing on the biennial budget process. Witnesses include Representative Reid Ribble (R) of Wisconsin, Representative David Price (D) of North Carolina, Philip Joyce of the University of Maryland, Rudy Penner of the Urban Institute, and Alice Rivlin of the Brookings Institution.
Still no tax deal in Pennsylvania. The state Senate will vote next week on a measure that would nix $14 billion in school property taxes and levy higher sales and state income taxes. This measure runs counter to the deal Democratic Governor Tom Wolf and the GOP legislature reached last week to cut property taxes by an extra $1.4 billion and resolve a budget stalemate.
Will Michigan use tax credits to lure a data center? The state could host the largest data center in the eastern half of the US, and Nevada-based company, Switch, could make use of a vacant building in Grand Rapids. In return, Switch just wants millions of dollars in tax relief. Will the firm get it? Some Michigan lawmakers still sting from the effect MEGA tax credits had on the state budget.
Will Massachusetts vote on a millionaire’s tax? Advocacy group Raise Up Massachusetts wants a constitutional amendment to add a 4 percent tax on income over $1 million. It says the $1 billion in new revenue could be spent on transportation and public education. The group has collected 155,000 signatures so far, but the proposal also needs support from at least 50 legislators in two successive constitutional conventions. The proposal couldn’t be on a ballot until 2018 at the earliest.
A new tax to spur housing development? In Saudi Arabia, residents often raise land prices by trading property. This includes “white land,” or urban plots with roads, water lines and street lights. The kingdom faces a housing shortage and developing desert land is expensive, so the Shoura Council proposes to tax white land to push owners to sell or develop the property. The king needs to approve the regulation.
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