MINNEAPOLIS—Minnesota officials discovered an error in a $3 billion tax cut bill lawmakers passed this spring that could cost taxpayers $352 million over the next two years, but state leaders promised to fix it before it would take effect. The head of the Minnesota Revenue Department Paul Marquart told the Minneapolis Star Tribune on Friday…
Minnesota Officials Say Error in Tax Cut Bill Could Cost Taxpayers $352 Million, but Promised a Fix
Republicans Unveil Major Tax Cut Proposal
House Republicans have unveiled a major tax cut proposal as part of a broader package of bills that aims to grow jobs, bolster small businesses, and provide relief to inflation-squeezed households by leaving more of their hard-earned dollars in their wallets. The tax cut proposal comes as part of a trio of bills introduced on…
California Tax Cut Bill Would Fight Inflation, Boost Economy
April 13, 2023
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Commentary Now we’re getting someplace. Rookie Assemblywoman Kate Sanchez (R-Murrieta) is advancing Assembly Bill 1724, which would cut the state sales tax 1 percentage point for one year. I’ve long said the way to improve the economy in California is with a series of small tax cuts for the middle-class and poor. Start small, keep trying….
Economist: ‘Revolution’ in States’ Tax Cuts
March 7, 2023
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West Virginia’s governor is expected to sign a bill that passed the state House this weekend. According to the Wall Street Journal, the bill would cut income tax rates by about 21 percent altogether. In Utah, the state legislature approved a $400 million tax cut package. Axios reports, if Utah’s governor signs it, it could save a…
Ontario Premier Doug Ford Announces Another Year of Gas Tax Cut
At a Nov. 13 news conference in Etobicoke outside a Circle K gas station, Ontario Premier Doug Ford announced that the fall economic statement to be delivered tomorrow will propose legislation to extend the province’s tax cut on gas for another year, until Dec. 31, 2023. Legislation passed in April had dropped the gas tax rate by 5.7…
Sunak Pledges VAT Break to Reduce UK Household Energy Bills
Conservative leadership candidate Rishi Sunak said on Tuesday that he would scrap VAT on all domestic energy bills next year if he becomes the prime minister. Sunak, who has criticised his opponent Liz Truss for promising unfunded tax cuts that he said will worsen inflation, was accused of performing a U-turn, but his supporters defended…
Time for a Half-Cent Sales Tax Cut Initiative
Commentary What a perfect time for an initiative to cut the California sales tax by a half-cent. In announcing his new budget proposal for fiscal 2022-23, Gov. Gavin Newsom boasted the state enjoyed a $45.7 billion surplus. Inflation also is raging. On Wednesday, the federal Bureau of Labor Statistics announced prices rose 7 percent from…
British Brewers Welcome Draught Beer Tax Cut, Question Its Impact
Pubs and beer producers have welcomed the “draught relief” announcement in the Chancellor’s Budget, though some doubted it would have a meaningful impact on the sector. Rishi Sunak told MPs in his Budget speech that duty rates for draught beer and cider will be cut by 5%, taking 3p off a pint in a pub….
$12 Billion in Tax Cuts to Drive Australian Economy
March 16, 2021
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Working Australians are expected to see $12 billion worth of tax cuts go into their pockets in the next six months as the federal government moves on from JobKeeper to other economic support policies. Treasurer Josh Frydenberg said the data shows around 8.8 million Australians had already benefitted from $9 billion in tax cuts from…
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