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October 26, 2016 2:18 PM
This week we are bringing you news on taxing Uber in Pennsylvania and yet more states with revenue gaps to fill in 2017. Thanks for reading the Rundown!
— Meg Wiehe, ITEP State Policy Director, @megwiehe
- A bill to legalize and tax ride-sharing services in Pennsylvania, such as Uber and Lyft, heads to Gov. Tom Wolf’s desk for signature. The legislation would enact a 1.4 percent tax on all rides and put an end to the question of their ability to operate legally in Philadelphia. Speaking of Philadelphia, its school district will benefit from two-thirds of the revenue collected in the city.
- From one Governor to another… West Virginia Gov. Earl Ray Tomblin says that the next governor of the Mountain State will have to raise taxes to make ends meet.
- In Wyoming, despite falling severance tax revenue and a confirmed $156 million shortfall, lawmakers have punted on raising new revenue. This November, voters will head to the ballot box to determine whether the state should invest more money in the stock market while the Governor is considering a withdrawal from the state’s rainy day fund.
- Count South Dakota among the states expecting to grapple with budget problems in 2017, due to a struggling agriculture sector and high reliance on a sales tax base that is losing revenues to untaxed internet sales.
- Fitch Ratings is now the second major ratings agency to warn that the tax cuts enacted in New Jersey this year as part of a deal to raise the gas tax will cause major funding issues, which could threaten its credit ratings.
What We’re Reading…
- New Jersey Policy Perspective released a report today that explores the impact of federal expansion of the earned income tax credit (EITC) on New Jersey adults without children.
If you like what you are seeing in the Rundown (or even if you don’t) please send any feedback or tips for future posts to Meg Wiehe at meg@itep.org. Click here to sign up to receive the Rundown via email.