Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
When Democrat Jay Inslee took office in 2013, the state’s two-year budget was $38.4 billion. Now, as he prepares to leave, he’s released a $78.8 billion spending plan.
Incoming GOP Gov. Mike Kehoe campaigned on a pledge to eliminate personal income taxes. Several bills would cut the income tax to 4 percent while imposing sales taxes on services.
St. Louis voters rejected a $60 million proposal for a new soccer stadium, but the city got one anyway. Here’s how it did that with minimal public funding.
The states have trigger laws to end coverage if the feds end funding for expansion under the Affordable Care Act. Other states may make cuts if funding gets rolled back.
The city’s finances were already in poor shape but suffered a blow last month when voters rejected a $400 million-per-year sales tax hike.
In Connecticut, 40 percent say they’re either struggling or just getting by financially.
’Tis the season: State politicians love to proclaim temporary tax respites, but they rarely achieve their stated objective of boosting economic activity. Poor timing, poor design — or just a bad idea?
Solar farms are being shut off, losing more than twice as much potential power than in 2021. The surplus would be worse if utilities weren’t paying other states to take some of the excess.
After tearing down high-rises and building more townhomes, the city is trying a mixed-used approach that blends towers with other amenities.
Big city transit systems receive more than half their operational funds from the state. That’s a far higher percentage than Boston, Chicago or New York.
Fitch Ratings issued a report comparing the pension debt in each state to personal income. Connecticut had the highest ratio, at 23 percent, while Tennessee was the best at 1 percent.
Democratic governors are scrambling to mount an effective opposition to the policies of the new administration. They may not be holding a winning hand.
Florida’s governor applauded FDA approval of the prescription drug import plan at the start of the year, saying it would cut prices. But there’s still no date for his program to begin.
New federal rules require localities to get rid of all their lead water pipes in the next 10 years. Officials say they need help – and money.
His second presidency could recolor the landscape for federal spending, with ramifications for states, local governments, schools and public pensions. Governors and mayors will need to try to discern where the political wind is blowing — and what to watch out for.
A half-dozen states rejected ranked-choice voting, although Washington, D.C., approved a measure. School choice fared poorly, while increasing criminal penalties proved to be popular.
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