Facing a deadline just days away, New Jersey lawmakers Wednesday night introduced and quickly began approving a record new $56.6 billion state budget that’s backed by a new tax hike on large companies, adds some funding for property-tax relief, and includes big spending on public schools and pensions.But Democratic leaders once again faced objections from … Read more
States, like California, are exploring alternative ways to recoup lost gas tax revenue by piloting a “road charge” program that charges drivers based on the number of miles they drive rather than how much gas they purchase. The program is optional and participants can earn up to 0 in incentives for providing feedback on their experience. The state is considering this alternative revenue source due to the decrease in gas tax revenue collection and the shift towards electric vehicles. The program includes security protocols to protect personal information, and no action or changes are currently being proposed.
Sales of new vehicles in Kenya fell 17.66 percent in the first quarter of 2024, the sharpest drop in seven years. This decline was attributed to increased taxation, rising interest rates, and a weakened shilling. Dealers such as Isuzu, CFAO, and Simba Corporation have been struggling in a tough operating environment, with climbing interest rates and pending bills affecting demand. The Kenya Revenue Authority also increased duty on shipping cars into the country, further impacting sales. Isuzu East Africa and CFAO Motors Kenya, which control a significant portion of new vehicle sales, experienced declines in sales, while Simba Corp saw a modest increase. The falling demand for vehicles has also affected government revenues.