Tax Policy Center

budget surplus

State and Local Issues: TaxVox

State Rainy Day Fund Balances Reached All-Time Highs Last Year

As states navigate an uncertain fiscal future , a lot of budget commentators will justifiably note that nearly every state cut taxes during the last few revenue boom years. But most states also stocked a lot of money into their savings accounts over the past three years – and this may help them weather forthcoming budget storms.
September 6, 2023Aravind Boddupalli
State and Local Issues: TaxVox

States Can Help Reduce the Burdens of Harmful Fines and Fees. Here’s How.

Thanks to surging tax revenues and an unprecedented infusion of federal aid, many states cut taxes over the past two years by lowering individual income tax rates, expanding tax credits, or sending one-time checks to residents. But there is another way states can use these funds: reduce or eliminate some local criminal legal fines and fees.
September 27, 2022Aravind BoddupalliKim S. Rueben
State and Local Issues: TaxVox

Sales Tax Carveouts: They’re All About That Base

Sales tax exemption bills may be good political messaging, but they reflect misguided tax policy that can be arbitrary, complex, and unenforceable.
March 2, 2022Renu Zaretsky
: TaxVox

Tax Day Is Here, And State Budget Offices Share Your Fears And Hopes For A Good Return

With Tax Day here, taxpayers are scrambling to finish up their returns—both federal and state (that is, if their state has an individual income tax)...
April 15, 2019Lucy Dadayan