Tax Policy Center

Kansas

: TaxVox

No Pain, No Gain: Taxes, Disclosures, and Data

Some GOP Kansas legislators may wish they could pack their bags and go home. And they did, over the weekend, but will be back in session today to try to pass a bill that fills the state’s $400 million budget hole with tax increases and other revenue-raising measures. It’s no easy task, given
June 8, 2015Renu Zaretsky
: TaxVox

Revenues and Rate Hikes: What’s an Elected Official to Do?

There’s a revenue surge in California. The state is exceeding its 2013 tax collections and beating 2014 forecasts. The Franchise Tax Board netted $7.6 billion in personal income taxes between April 1 and this past Monday. It collected $6 billion during the same period in 2014. The state’s school
April 22, 2015Renu Zaretsky
: TaxVox

The Senate Keeps Working...

Still on deck in the Senate: It is expected this week to renew dozens of expired tax breaks, including tax cuts for business research, wind power, and foreign profits. It’s worth remembering that if a $42 billion package like this gets passed every year , the federal deficit could grow by $800
December 16, 2014Renu Zaretsky
: TaxVox

Liability, Math, and Budget Crunches

Can a state tax all of the income of its residents, wherever it is earned? The US Supreme Court heard oral arguments yesterday in Comptroller v. Wynne . A decision will answer whether residents of one state are liable for taxes on income earned in another state, even if that income has already been
November 13, 2014Renu Zaretsky
: TaxVox

Field of Tax Dreams: Budgets, Taxes, and Takeovers

If you cut it, will it do more? The IRS budget has been cut by $1 billion over the past four years, with a subsequent loss of 10,000 IRS jobs. Late Monday night, the House GOP by voice vote voted to cut $1.14 billion for the next fiscal year, or 13 percent below last year’s budget . The funding “
July 16, 2014Renu Zaretsky
State and Local Issues: TaxVox

What’s The Matter With Kansas And Its Tax Cuts? It Can’t Do Math

Kansas Governor Sam Brownback and his state legislature have embarked on a wonderful natural experiment. Once again we are testing the question: Can tax cuts pay for themselves? The answer-- yet again-- is a resounding no. We’ve tried this experiment time and again. And tax cut proponents such as
July 15, 2014Howard Gleckman
: Daily Deduction

The Tax Man Cometh, But Sometimes Collects Less

The FATCA wait is over. The Foreign Account Tax Compliance Act goes into effect tomorrow. It is designed to prevent tax evasion by US citizens with more than $50,000 held in foreign banks, investment funds, and other institutions. China is the latest nation to join about 80 other jurisdictions in
June 30, 2014Renu Zaretsky
State and Local Issues: TaxVox

What Ever Happened to State Tax Reform?

Just months ago, to the joy of conservatives and the consternation of liberals, several Republican governors proposed major tax reform plans. At least three--Bobby Jindal...
April 16, 2013Howard Gleckman