The August 2008 issue offers a special report on state lotteries, which are being viewed as a new source of revenue by several key states. On page 1:
- Virginia Gov. Tim Kaine has launched a campaign to raise taxes and fees to replace those recently ruled unconstitutional by the state supreme court.
- Congress is finishing work begun in 2006 to remedy unintended consequences of the Alternative Minimum Tax.
- Presidential hopefuls John McCain and Barack Obama support a spending transparency measure working its way through Congress.
- North Carolina Gov. Mike Easley’s proposed budget includes new taxes on beer, wine, and spirits.
Also in this issue: entitlement spending, mortgage guarantees, income tax surcharges, smoking bans, cigarette taxes, gas tax holidays, unions, business taxes, school funding, and more.
Governor Tries to Replace Taxes Thrown out by Va. Supreme Court
Barely three months after the Virginia Supreme Court struck down hundreds of millions of dollars in taxes and fees intended to fund transportation, Gov. Tim Kaine (D) launched a campaign to raise taxes and fees to replace the ones ruled unconstitutional.
Congress Acts to Address AMT Flaws
Congress is finishing work begun in 2006 to remedy an unintended consequence of the Alternative Minimum Tax (AMT)–the treatment of a form of employee compensation called incentive stock options (ISOs).
McCain, Obama Support Spending Transparency
The nation’s two presumptive major political party candidates for president have joined Sens. Tom Coburn (R-OK) and Tom Carper (D-DE) in introducing legislation to enhance a landmark spending transparency measure that became law two years ago.
North Carolina Seeks to Hike the State’s Beer, Tobacco Taxes
North Carolina Gov. Mike Easley (D) managed to offend both the mentally ill and beer drinkers when he unveiled his budget for Fiscal Year 2009.
Spotlight: State Lotteries
Californians Doubt Schwarzenegger’s Plan to Borrow against the Lottery
California Gov. Arnold Schwarzenegger (R) has proposed borrowing against future earnings in the state lottery to solve the state’s budget deficit, currently estimated at $17 billion.
Related Story: State Lotteries Stagnating?
Related Story: Governors in Several Key States Continue to Push Lottery Privatization
Related Story: Budget Expert, Tax Watchdog Sound Caution Over Lottery Plan
Spotlight: Smoking Bans
History Shows Smoking Bans Likely to Be Repealed
Related Story: “Loose Square Men” Help Smokers One Cigarette at a Time
Related Story: New York Sets Record Cigarette Tax
Ready for a 150 Percent Income Tax Increase?
Congress Mulls Mortgage Guarantees; Critics See More Harm than Good Likely
“Patriot Tax” Surcharge Would Slap Small Businesses
Gas Tax Holidays, Windfall Profit Taxes of Doubtful Value, Analysts Conclude
Related Story: Better for Politicians than Consumers
Report Card Exposes Big Labor’s Hold on State Governments across the Country
Wisconsin Congressman Proposes New “Roadmap” on Entitlements
Alabama Natural Gas Tax Hike Shelved
State Agency’s Plan to Buy Wrigley Field Stumbles Again
Use of Tax Dollars to Influence Tax Vote Questioned in North Carolina County
Iowa Governor Stops Expansion of Union Benefits
Study: Massachusetts Business Taxes Should Be Lowered and Simplified
Connecticut Residents Tune in to Debate about School Funding and Taxes
Related Story: Impressive Line-Up of Panelists