Tax Bill Would Scrap a Billion From Western States

Western states rich in coal, oil and natural gas—among them Wyoming, New Mexico and Montana—already rely heavily on those industries and have had their budgets hit hard in recent years by falling energy prices.

Bloomberg Blasts GOP Tax Bill

Among the criticisms the business tycoon and ex NYC mayor lodges against the legislation: Restricting state and local tax deductions will mean less local investment for infrastructure.

A Push to Preserve the New Markets Tax Credit

The future of the credit, which helps provide low-cost financing for projects in struggling communities, has been caught up in the tax debate unfolding in Congress.

GOP Tax Deal Is Slated to Expand Capped SALT Deduction Proposal

Property, income and sales taxes would be covered under the emerging plan, which would differ sharply from current law.

GOP Leaders Near Deal on Tax Bill

But Republican negotiators in the House and Senate were mum Tuesday on specifics that could affect states and localities.

Republicans Mull Expanding State, Local Deduction in Tax Legislation

GOP leaders in the House and Senate have voiced an openness to including a limited deduction for state and local income taxes as they move toward finalizing their tax code rewrite.

Why It’s Getting Easier for Marijuana Companies to Open Bank Accounts

Banks and credit unions are becoming more comfortable serving marijuana businesses. But the progress could be wiped out by President Trump’s Justice Department.

2 Key Ways Federal Tax Reform Would Affect States

Changes would probably have varying impacts across states and could have considerable effects on state revenue.

Senate Approves Tax Bill With Limited State and Local Deduction

The legislation passed 51-49, without Democratic support. One credit rating agency described the bill as "negative overall for state and local government finances."

Proposals With State and Local Implications in Limbo Amid Turbulent Senate Tax Debate

The state and local tax deduction remains a marquee item. But there are also notable amendments filed involving tax credits, marijuana and municipal bonds.

Loose Credit, Rust Belt Woes Lead to Foreclosure Uptick

Beyond the Rust Belt in some of the high-flying real estate markets in cities like Denver and Austin, the rare increases in foreclosures may be early warning signs of trouble ahead.

Collins Files SALT Amendment, as Senate Votes to Debate Tax Bill

Sen. Susan Collins is proposing to change state and local tax deduction provisions in the bill to mirror House legislation.

Why Cutting Historic Preservation Tax Credits Won't Be Easy

Preservation advocates, small town mayors, commercial developers and builders argue the credits more than cover their costs by generating jobs and tax revenue.

As States Face Sluggish Revenue Growth, They’re Threatened by Federal Policies

New Jersey’s former budget director and comptroller digs into expenditure data from a recently released report from the National Association of State Budget Officers and has six key observations.

Trump Tells Senators He Backs Capped SALT Deduction in Tax Bill

GOP tax legislation in the Senate could get a floor vote before the end of the week.

The Republican Tax Bill Might Need an Escape Hatch to Pass

Ahead of a key vote this week, senators from states where tax cuts busted the budget want the plan to include a “backstop” in case the party’s rosy revenue predictions don’t come true.

States Hope Supreme Court Sports Betting Case Will Lead to Revenue Windfall

The high court might end a “failed statutory regime” that Nevada currently enjoys.

GOP Tax Overhaul Could Hit State and Local Pension Plans With Federal Tax

“It's a huge burden,” the executive director of the National Conference on Public Employee Retirement Systems said as he discussed the tax proposal.

Spending on State and Local Environment and Interior Programs Spared Big Cuts in Senate Plan

But there aren’t huge boosts in the appropriations proposal either for programs that are significant for states and localities.