Taxes

States With the Highest Personal Income Growth

Total income growth is higher in all states than before the pandemic, thanks to elevated levels of government assistance and growth in wages, according to a report.

The Best and Worst Cities to Retire Are Surprising

Orlando, Florida tops the list for best cities to retire while San Bernardino, California comes in last, according to a report.

SALT Plan Reworked—Again—as Democrats Push Towards Vote

The latest proposal would lift the cap on the state and local tax deduction to $80,000.

4 Things to Know About Local Government Fiscal Conditions

Despite fiscal challenges over the past 18 months, cities have demonstrated greater resilience than expected through the pandemic, according to a report.

SALT Proposal in House Bill Would Raise Cap to $72,500 Through 2031

Meanwhile, in the Senate, two lawmakers offered up an alternative plan. It does seem there's support for including some kind of rollback of the cap in the budget bill now being negotiated.

5 Strategies to Help Residents Without Bank Accounts Get Rental Assistance

Unbanked tenants have a harder time applying for emergency rental assistance, along with difficulty accessing assistance if they do receive funds, according to a report.

Democrats Trying to Nail Down SALT Deduction Cap Repeal Plan

The specifics of lifting the $10,000 limit on the state and local tax deduction were still coming into focus late Tuesday, with a key progressive senator rejecting one leading option.

The Revolution Will Be Improvised

President Joe Biden’s hastily announced framework for his “Build Back Better” plan doesn’t mean the deal is done.

States With the Highest and Lowest Gasoline Prices

Mississippi ranks No.1 for states with the lowest fuel prices while California has the highest prices, according to a new report.

A Breakdown of the Black-White Homeownership Inequality Gap

Homeownership is less achievable for Black Americans and they live in neighborhoods with houses valued at $48,000 less than white families’ homes, a new report reveals.

Tax or Treat! State Laws on Candy Taxation Vary Wildly

Whether you pay tax on your Halloween treat supply depends on which state you live in and how it defines candy.

Local Taxpayers Are Footing the Bill for Climate Disasters

The costs for paying to fix or replace infrastructure and other assets more adversely impact low-income groups, according to a report.

Appeals Court Rules Against States Challenging SALT Deduction Cap

The decision comes amid debate in Congress over whether to roll back the $10,000 limit on a write-off for state and local taxes.

The Most and Least Tax-Friendly States for Middle-Class Families

A recent ranking looks at the sum of taxes paid in different states by a hypothetical family earning $77,000 a year.

State Tax Limits Can Hamper Local Fiscal Stability

States should consider adjusting policies that tightly restrict budget flexibility for cities and counties, according to a report from The Pew Charitable Trusts.

Cash for Kids Comes to the United States

The new child tax credit will radically reduce poverty, but millions of the poorest children might miss out.

How State Finances Fared During the Covid-19 Crisis

A new survey of budget officials shows that economic activity and tax revenue improved or fully recovered for most states by the end of 2020.

Pandemic Growth Led This State to Slash Taxes, Issue Rebates

Tax policy experts and state officials believe Idaho’s rapid economic growth will offset the tax cuts, making them feasible under federal funding rules.  

The States With the Stiffest Liquor Taxes

Washington has the highest excise tax rate on distilled spirits ($35.31 per gallon) while New Hampshire and Wyoming have the lowest rates (less than $1), according to the Tax Foundation.