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August 24, 2016 12:50 PM
This week we are highlighting tax and budget news in New Jersey, Minnesota, Illinois, California and Colorado. Be sure to check out the What We’re Reading section for the latest on marijuana laws, state film tax credits, and a new income equality report. Thanks for reading the Rundown!
— Meg Wiehe, ITEP State Policy Director, @megwiehe
- The refusal to raise gas taxes to fund road and bridge construction, maintenance, and repair in New Jersey will now start harming other services in the state sinceGov. Christie has issued an executive order that will divert general fund dollars away from other state priorities to keep the roads department from shutting down.
- Hopes for a special session to address tax, bonding, and transportation bills in Minnesota were put to bed by Gov. Dayton last week due to failed negotiations over a light rail transit line. Expect to see all of these issues again during the 2017 legislative session.
- Illinois became the third state this year to repeal sales taxes on feminine hygiene products. Lawmakers in California approved similar legislation last week, the fate of which will be decided by Gov. Jerry Brown.
- A proposed constitutional amendment to raise the Colorado cigarette tax has been approved for the November ballot, putting the decision to increase the tax from $0.84 to $2.59 per pack in the hands of voters.
What We’re Reading…
- As more jurisdictions consider liberalizing their marijuana laws, the co-director of the RAND Drug Policy Research Center explains the importance of adopting tax structures that can flexibly respond to lessons learned through the implementation of this new tax.
- A new report from the University of Southern California reiterates the failure of state film tax credits to bring about meaning economic return.
- A new income inequality report from CBO looks at the uneven distribution of wealth across the country.
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