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Taxes

All articles tagged with #taxes

politics11 days ago

Hochul bets centrist affordability plan to blunt cost-of-living backlash

New York Gov. Kathy Hochul is pushing a wide-ranging affordability agenda—reforming car insurance, easing housing construction, and curbing the climate law’s cost—to lower future utility bills, even as she clashes with Albany’s left and NYC Mayor Mamdani over taxes. While Sen. Bernie Sanders pressures Hochul to back higher taxes, the governor argues a consumer-friendly, no-tax-hike approach will win votes and provide relief, helping drive a national-left split on affordability. The plan has in part delayed the state budget as Hochul leverages the issue to bolster her reelection bid, with lawmakers and critics weighing the best path to relieve pockets and shore up support for down-ballot Democrats.

via Politico|
#affordability#budget#hochul
Hochul urges NY’s patriotic millionaires to stay and fund social programs
politics22 days ago

Hochul urges NY’s patriotic millionaires to stay and fund social programs

New York Gov. Kathy Hochul called high-net-worth residents who remain in the state to support social programs “patriotic,” a contrast to past calls for wealthier NY voters to relocate to low-tax states. The article surveys blue-state efforts to curb wealth flight amid reports of residents moving to Florida and other tax havens, and outlines how states use multi-factor residency tests—like the quirky “Near and Dear” teddy-bear criterion—to determine domicile. It notes the outsized role of the top 1% in NY taxes and references historical residency audits, framing wealth retention and exit-tax debates as a nationwide tax-policy battleground.

via Fox News|
#hochul#new-york#politics
California Gas Costs More: Rules, Taxes, and Isolation Lift the Pump Price
business22 days ago

California Gas Costs More: Rules, Taxes, and Isolation Lift the Pump Price

Gas prices spiked nationwide in March, but California’s average is far higher due to a state-mandated, cleaner-burning fuel blend that costs more to produce and is not easily importable; combined with high taxes, the Cap-and-Invest/Low Carbon Fuel Standard, and a fuel-island market with refinery closures, these factors push California prices well above the national average (about $5.53/gal in mid-March vs roughly $3.79 nationally).

via SlashGear|
#business#california#gas-prices
Washington lawmakers inch toward 9.9% tax on top earners as deadline nears
politics1 month ago

Washington lawmakers inch toward 9.9% tax on top earners as deadline nears

Legislative leaders in Olympia moved overnight toward a vote on a proposed 9.9% income tax on income above $1 million, set to take effect in 2029. Supporters, including Gov. Ferguson, say the revenue would fund families and small-business programs, while Republicans push amendments such as a charitable deduction. Critics warn the plan could violate the state constitution and invite court challenges, with opponents weighing a citizen initiative to repeal if it passes. If approved by the House, the bill would go to the Senate and then Ferguson for signature.

via KOMO|
#income-tax#legislature#millionaires
Indiana tax plan eyed to back Bears stadium financing in Hammond
politics1 month ago

Indiana tax plan eyed to back Bears stadium financing in Hammond

A fiscal note for Senate Bill 27 shows Northwest Indiana could be taxed to fund a Chicago Bears stadium in Hammond, using bonds backed by new taxes (1% food-and-beverage in Lake and Porter counties, a Lake County hotel tax increase, and a Hammond admissions tax) plus potential toll-road lease proceeds; revenue estimates exist but total figures are uncertain as lawmakers mover toward a second reading.

via Indiana Capital Chronicle|
#bears-stadium#indiana#northwest-indiana
Can NYC’s Higher Taxes Truly Tax the Rich Without Driving Them Away?
economy1 month ago

Can NYC’s Higher Taxes Truly Tax the Rich Without Driving Them Away?

New York City faces a tax policy clash as Mayor Mamdani pushes for higher income and corporate taxes to close a budget gap, while Gov. Hochul resists and a 9.5% property tax option is floated. Analysts differ: some say higher rates won’t cause abrupt migration but could erode NYC’s competitive footing over time, while others argue high taxes are common in strong regional economies. The piece outlines NYC/state tax burdens, the top-earner tax contributions, and the mixed evidence on whether taxes influence where high earners and businesses locate.

via THE CITY - NYC News|
#corporate-tax#economy#income-tax
california-politics1 month ago

Steyer pushes 2027 ballot to raise corporate taxes in California

Tom Steyer told labor unions he would back a 2027 push to raise corporate taxes, potentially via a special legislative session and an off-year ballot that could expand Prop 13 with a split-roll to tax commercial property at market value; he argues the move is needed to shore up California’s budget after federal cuts, while courting union endorsements and signaling he might finance the effort with his personal wealth.

via Politico|
#california#california-politics#prop-13
Congress blocks DC tax decoupling, risking $600 million in revenue
politics2 months ago

Congress blocks DC tax decoupling, risking $600 million in revenue

The House voted to block Washington, D.C., from decoupling its local tax code from President Trump’s federal tax cuts, a move city officials say would cost hundreds of millions in revenue and require a months-long suspension of the local tax filing season; if approved by the Senate, the disruption could extend to the city’s tax system.

via The Washington Post|
#dc-home-rule#government-budgets#legislation
Trump touts an Iowa resurgence driven by tax cuts and cheaper energy
politics2 months ago

Trump touts an Iowa resurgence driven by tax cuts and cheaper energy

President Trump visits Iowa to tout what his administration calls a thriving economy under Republican leadership: notably lower gas and diesel prices, strong growth, and anticipated wage gains from the Working Families Tax Cuts; he cites tax relief, job protections, rural health investments, and mortgage support through Fannie Mae/Freddie Mac as benefits for Iowans, framing these policies as delivering relief for families and strengthening energy and agricultural sectors.

via The White House (.gov)|
#economy#gas-prices#iowa