March 28, 2024<\/b><\/p>\n
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March 28, 2024<\/b><\/p>\n
While madness is typically reserved for basketball in March, several high-profile, regressive tax cuts are making their way through state legislatures this week. In KANSAS<\/strong>, the House unanimously passed cuts to income, sales, and property taxes while trying to circumvent a veto from Gov. Laura Kelly. The MISSOURI <\/strong>House passed a bill that would fully eliminate the state\u2019s tax on profitable corporations, despite its roughly $880 million annual revenue loss and the fact that most of the bill\u2019s benefits would flow to out-of-state shareholders. Meanwhile, lawmakers in NEBRASKA <\/strong>are eyeing an increase to the state\u2019s sales tax, among other measures, to fund property tax cuts. VERMONT <\/strong>is a notable exception to this spate of regressive tax cutting, as the House Ways and Means Committee approved three bills that would generate $500 million, mostly by taxing wealthy households and corporations. State Roundup<\/strong><\/p>\n What We\u2019re Reading<\/strong><\/p>\n If you like what you are seeing in the Rundown (or even if you don\u2019t) please send any feedback or tips for future posts to Aidan Davis at [email\u00a0protected]. Click here to sign up to receive the Rundown via email. <\/p>\n – Several high-profile, regressive tax cuts are making their way through state legislatures in Kansas, Missouri, Nebraska, and Vermont.
\nMajor State Tax Proposals and Developments<\/strong><\/p>\n\n
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\n– In Kansas, the House passed cuts to income, sales, and property taxes, with more than half of the benefits flowing to the state’s top 20 percent of earners.
\n– Missouri’s House passed a bill to fully eliminate the state’s corporate income tax by 2028, despite its 0 million annual revenue loss.
\n– Nebraska lawmakers are considering raising the state’s sales tax to fund property tax cuts.
\n– Vermont’s House Ways and Means Committee approved bills to generate 0 million by taxing wealthy households and corporations.<\/p>\n","protected":false},"author":6,"featured_media":6213,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1521,3492,3681,4061,3399,932,432,2681,26,405,1873,4226,4081,415,2987,2294,3398,1823,67,899,582,2685,2628,3682,4059,284,1022,4308,433,133,827,4307,1358,168,1065,3358,3488,1183,4227,3076,618,2666,1681,3438,4115,1774,2343],"class_list":["post-6212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-1521","tag-bill","tag-corporate-income-tax","tag-corporate-tax-rates","tag-corporate-taxes","tag-court","tag-covid","tag-disclosure","tag-economy","tag-education","tag-fairness","tag-franchise-tax","tag-future","tag-government","tag-hotel","tag-income","tag-income-tax","tag-increase","tag-inflation","tag-interest","tag-justice","tag-legislation","tag-money","tag-personal-income-tax","tag-phase-out","tag-property","tag-republican","tag-revenue-loss","tag-school","tag-schools","tag-security","tag-state-legislatures","tag-support","tag-supreme-court","tag-tax","tag-tax-cuts","tag-tax-proposals","tag-taxes","tag-tennessee","tag-tips","tag-top","tag-transportation","tag-trust","tag-vehicle","tag-veto","tag-vote","tag-voting"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n