Posted on 06/01/2018 6:04:23 AM PDT by caww
According to the annual “State of the States Report” from the American Legislative Exchange Council,... 13 governors proposed tax cuts, a sizable shift from past years. Two others proposed cuts and some increases.
“In a majority of the 2018 State of the State addresses, governors focused heavily on tax policy, with many pointing to the pro-growth effects their states have experienced as a result of tax relief,” said ALEC’s report.
“As a result of the first federal tax reform in more than 30 years, many states are looking forward to higher tax revenues or surpluses. A number of governors outlined their plans for this unexpected tax revenue, often with the focus of giving it back to the people through their own tax relief plans,” added the analysis....most of the tax cut proposals impacted personal income.
“The untold story of federal tax reform's success is the opportunity the new law has provided governors to advance pro-taxpayer proposals. Unexpected state revenue resulting from federal tax reform has shifted the debate in many state capitals this year towards proposals that favor tax relief,” said Jonathan Williams, chief economist and vice president of the Center for State Fiscal Reform. “
(Excerpt) Read more at washingtonexaminer.com ...
I recently reviewed Value Line write-ups for 30 companies. Every one of them listed an impact due to Trump’s tax cut. Some of these companies were bringing billions of dollars back to the US from overseas operations. All of the companies registered some level of boost from the cuts. Many were investing in infrastructure or new products. All had registered or expected some growth. Those cuts are the reason the stock market and employment have surged.
Well, Not the assholes in Trenton, NJ they want to raise taxes. Unbelievable.
In NJ we’re in the cycle where we are dissatisfied with a two term GOP governor because he/she turned out to be a RINO who was all talk/no action so we elect a democrat who immediately moves to make our lives miserable. So we toss them after one term (and a lot of permanent damage) and then vote for another RINO who will disappoint us and so on...
Utilities are seeing benefits from tax cuts also
http://wvmetronews.com/2018/05/30/utilities-save-millions-because-of-federal-tax-reform/
It’ll be up to state PSCs how the customers will benefit
Cisco is repatriating over $60 billion to the U.S. Its most recent dividend increase was about 14% which, if you’re reading Value Line, you probably already know. ;)
I can relate to your predicament. I too live in a blue state — but not for much longer.
“Unexpected state revenue resulting from federal tax reform has shifted the debate in many state capitals this year towards proposals that favor tax relief.”
More winning!
The tax cuts are a gift that keeps on giving. Liberal states are well and truly screwed. They ran out of other peoples money (via deductions to fund their socialism).
MAGA!!!!!
My guess is you see tax increases in states run by Democrats and RINOs.
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