The Glitch in Colorado’s Weed Experiment – NYTimes.com

To be filed under the “be careful what you wish for” category of fiscal policy. Colorado scrambles to avoid having to refund all of the revenue from marijuana sales, because, well because SMALL GOVERNMENT! As an April 1 report in The Times explained, Colorado’s tax revenues have recently surged, thanks …

News of the unsurprising: tax cuts lead to budget deficits

November 18, 2014 – RALEIGH, N.C. North Carolina lawmakers are likely enjoying some downtime after the legislative session and midterm election, but experts predict a tough session waiting for them on their return to Raleigh. A report from the Office of the State Controller indicates tax revenues are down by almost $400 …

Kansas cuts taxes, guess what happens next?

There may be even bigger challenges coming. In addition to the likelihood the state will face another unpleasant revenue surprise in the spring, a pending court decision could obligate the legislature to add hundreds of millions of dollars a year to state aid to school districts. And bond rating agencies, …

We’re not in Kansas anymore – or are we?

Great clip from the Daily Show about tax cut strategies gone wrong, prompting Kansas Republicans to endorse the Democratic opponent of Sam Brownback, the current Republican Governor. The Daily Show Get More: Daily Show Full Episodes,Indecision Political Humor,The Daily Show on Facebook

To Pay for Infrastructure Repairs, Obama Seeks Tax Changes

ST. PAUL, Minn. — Caught between a gridlocked Congress and a Highway Trust Fund that will soon be broke, President Obama on Wednesday urged lawmakers to overhaul corporate and business taxes to pay for repairing and replacing the nation’s aging roads, rails, bridges and tunnels. … New legislation to pay for transportation projects …

Rich people, poor people

Mayor Bloomberg’s interesting framing of how rich people bring more money to the city’s budget, which helps the many poor people living in the city (yes, despite all the frenzy about hipsters in NY, 46% of New Yorkers’s live under 150% of the federal poverty threshold, or less than $35,775 …

NYT series on subsidies, part 2 (Texas)

The New York Times is running part two of its series on state and local corporate welfare. Today’s piece focuses on Texas, the biggest grantor of such subsidies, and a state at the forefront of both radical cuts to education spending and aggressive state tax cuts that have left both …

Economic development, or blackmail?

The New York Times is running a terrific series on tax breaks and other subsidies given by governments, especially local and state governments, to corporations that promise jobs and revenue, despite the patent failure of such subsidies to improve the economic situation of communities. This first part of the series …

Following the money

It’s no secret that local governments give billions of dollars to companies in the form of tax breaks and other benefits, in both good times and bad. But policymakers are loathe to tally up the real costs of this approach to economic development. Today the New York Times launched a …