Last week, Steve Adler, the mayor of Austin, Texas, announced that city taxpayers would be paying $460 million for a biomass power plant they’d previously paid $128 million to help build on top of a yearly payment of $54 million for six years—that generated electricity for all of two months. The Nacogdoches Generating Facility in East Texas...
Polls show that the majority of Americans don’t think their taxes were cut with the landmark tax cut and reform bill signed into law by President Donald Trump in December 2017. But just in time for tax day, the New York Times published a well-written and counter-intuitive analysis by two of their economics reporters, Ben Casselman and Jim Tankersley....
The 2018 mid-term elections delivered California Democrats a firm supermajority in both legislative houses after years of steady, incremental gains. Now, as the 2019 legislative session begins there in earnest, it’s clear that the ascendant progressives who control both chambers are intent on increasing taxes. There’s a Democratic drive to hike taxes of every imaginable type – attorneys, car...
The U.S. Bureau of Labor Statistics released its March employment report this morning, estimating that employers added 196,000 nonfarm jobs. The official unemployment rate remained unchanged at 3.8%. The federal bureau revised its January jobs estimate up by 1,000 to 312,000 jobs and revised February’s estimate upwards 13,000 to 33,000, for a total of 14,000 more nonfarm...
The Institute on Taxation and Economic Policy is at it again. The think tank, funded by organized labor, consistently pushes for higher, more progressive income tax rates. In a report profiled by major media, ITEP makes the case that “Fairness Matters” in who pays state and local taxes. Presumably, “fairness” is important because policymakers don’t want a tax...
President Donald Trump is flying to El Centro, California on Friday, April 5 and then traveling five miles south to the border town of Calexico to inspect a newly completed section of the border wall. He is also scheduled to hold a roundtable discussion with local law enforcement officials. As Pres. Trump tours California’s Imperial Valley—a...
Since President Trump signed the Tax Cuts and Jobs Act of 2017 into law in December 2017, private sector job growth in states with smaller state and local tax burdens has run 77% ahead of states with heavier tax loads from December 2017 to February 2019. Among its provisions, the new law limited state and...
The Texas Legislature is grappling with its biennial budget negotiations, with Wednesday expected to be a long night in the state’s House of Representatives. That’s where 307 spending amendments will be debated. There are three main issues at stake: overall spending, public education finance reform including teacher salaries, and property tax relief. Starting with discretionary spending,...
During the first two weeks of March in Austin, Texas, dockless scooters propelled people almost 530,000 miles, a distance greater than to the Moon and back again, according to Jason JonMichael, an official with the Austin Transportation Department in a story posted by KLBJ News Radio. JonMichael told the Urban Transportation Commission that “…we are moving...
During the 2016 presidential campaign, Donald Trump consistently promised to revive America’s manufacturing economy. Trump’s focus on manufacturing brought out high-profile critics who scoffed at the notion. President Obama notably said in June 2016 that manufacturing jobs “are just not going to come back.” He said this at a time when manufacturing job growth had...
On March 5, National Public Radio (NPR) posted an investigatory piece entitled, “How Federal Disaster Money Favors The Rich,” which asserted that the U.S. is experiencing more disasters due to climate change and that federal disaster assistance favors the wealthy over the poor. This is a classic call to action: things are bad and getting...
Texas is one of seven states that doesn’t levy a personal income tax. And while Texas’ overall state and local tax burden is considered relatively light, putting Texas 15th on the Tax Foundation’s 2019 State Business Tax Climate Index, the Lone Star State’s property tax ranking is 37th, meaning that 36 other states have a...