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March 8, 2012 4:36 PM
- Rising gas prices are making some politicians in Maryland, Michigan, and Iowa back away from courageous proposals to raise their states’ long stagnant gas tax rates. Rather than lose momentum, lawmakers can enact legislation now that will implement a gas tax rate increase when prices begin to come down.
- The Institute on Taxation and Economic Policy (ITEP) testified this week in front of Alaska’s Senate State Affairs Committee Regarding the Alaska Tax Break Transparency Act. The bill would mandate the state develop a tax expenditure report which would detail the tax breaks the state provides, along with the cost of each to taxpayers. Forty-five other states currently produce these reports which can ultimately help the public have a say in government spending.
- Following up on our earlier post about New Mexico Governor Susana Martinez’s opportunity to sign legislation instituting combined reporting, the Governor vetoed SB9. Supporters of the bill designed it as a first step in reforming the state’s corporate tax laws and leveling the playing field for small, in-state business.
- An Illinois Senate committee recently approved a new tax on strip clubs to help fund sexual assault prevention programs. This is the same state considering taxing ammunition to pay for medical trauma centers. Illinois has a history of bad budget gimmicks that are largely responsible for its current $9 billion deficit.