“Large amounts of tax revenue from sports gambling is no sure bet,” one expert notes.
Taxing big business means more money for health care and social assistance, but the city’s economist says it could also mean fewer jobs and a smaller economy if companies move or open elsewhere—which could sting in a recession.
A new analysis identifies states that have sent more money to Washington than they saw in returned federal spending.
Those interested in the economic development program have been closely tracking the guidelines.
The “SALT” deduction was curbed by the GOP-backed tax law passed in late 2017.
New York currently makes the most off its estate tax, but California has the most to gain, a liberal policy group argues.
The council will engage with state and local government officials on development in zones, a White House adviser said.
"There's a lot of work to do here that tax-advantaged capital will not do by itself,” says urban policy expert Bruce Katz.
New York City's mass transit system has been facing financial stress and service problems. Could legalizing pot help?
The process will be more of a struggle in some states than others.
“It wasn't just a sense of winners and losers in this,” says Mayor Karen Freeman-Wilson, of Gary, Indiana.
Company also outlines billions of dollars of incentives—including tax credits and cash grants—promised by states and localities.
The initiative drew over $20 million of support from soft drink companies and others. A similar proposal in Oregon failed.
A source of transportation funding in the state has been preserved.
STATE AND LOCAL ROUNDUP | More recycling sector disruption … Minneapolis alcohol vote; and a “sex for speedbumps” scandal in Florida.
Two House members are advocating for the New Markets Tax Credit program to be extended in any post-election tax legislation.
Washington and Oregon voters will decide on measures that would prohibit certain taxes on sugary drinks and grocery businesses.
STATE AND LOCAL ROUNDUP | Super Typhoon Yutu’s destruction … Missing vote-by-mail applications in Ga. … Wis.’s slipping DMV performance … and Philly City Council honors Gritty mascot.
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