Government taxation and revenue
Minn. session '13: What got done, what didn't
Minnesota state lawmakers promised when the legislative session began that their top priority was setting a new state budget. To that end, they produced a $38.3 billion two-year spending plan that hikes taxes on top income earners and on cigarettes, and distributes hefty spending increases to public schools, freezes tuition ...
Highlights of the new Colorado school finance law
The school finance overhaul signed into law Tuesday by Gov. John Hickenlooper makes big changes to how public schools in Colorado are funded. All the changes depend on voters approving some $1 billion a year in new taxes. Among the changes Colorado schools would see if voters agree are: — ...
Former IRS chief: Can't say how targeting happened
The man who led the Internal Revenue Service when it was giving extra scrutiny to tea party and other conservative groups seeking tax-exempt status told Congress on Tuesday that he knew little about what was happening while he was still commissioner. Douglas Shulman, who vacated his position last November when ...
NY residents voting on school budgets
New York school districts are proposing an average tax levy increase of 2.8 percent in budgets being voted on, with all but a relative few staying within taxing limits set by the state to virtually assure passage. Last year, 99 percent of budgets that adhered to the state's tax cap ...
Kan. Legislature stalemated on tax, budget issues
Kansas legislators were stalemated Monday on spending and tax issues as Republican leaders publicly bickered over GOP Gov. Sam Brownback's plan to stabilize the budget by canceling a scheduled decrease in the state sales tax. Senate President Susan Wagle acknowledged that she's waiting for the House to endorse Brownback's proposal ...
Ala. Legislature rejects Bentley's 2-year-delay
The Republican majority in the Alabama Legislature handed the GOP governor a major defeat Monday night by rejecting his proposal to delay the start of private school tax credits for two years. The House voted against the governor's proposal 57-10 Monday. Then the Senate agreed 19-15 at the urging of ...
Panel: Apple uses firms outside US to avoid taxes
Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found. The world's most valuable company is holding overseas some $102 billion of its $145 billion in cash, and an Irish subsidiary that ...
Business Highlights
___ Yahoo takes big leap with $1.1 billion deal for Tumblr SAN FRANCISCO (AP) — Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet pioneer that had fallen behind the times. The deal announced Monday is Mayer's boldest move since ...
Fla. gov. vetoes nearly $400 million from budget
Florida Gov. Rick Scott, who had a tough time winning cooperation this past year from the Republican-led Legislature, struck back on Monday by vetoing nearly $400 million from the state's new budget. Scott praised the overall budget — which now stands at roughly $74.1 billion — because it includes spending ...
Analysis: Missouri GOP success in eye of beholder
Success. That desirable word can have different meanings to different people. Sometimes, success is in the effort. But ultimately, success is often judged by results. When the Missouri Legislature adjourned its annual session this past week, the Republican majority claimed it was a successful effort — even "historic" and "monumental" ...
Mich. disabled vets could see property tax relief
Some disabled veterans living in Michigan could get some relief next tax season under legislation being debated in the state Senate. Two different bills passed by the Senate Finance Committee last week have one aim: to provide property tax exemptions for veterans who are disabled as the result of their ...
Obama agenda marches on despite controversies
Despite Democratic fears, predictions of the demise of President Barack Obama's agenda appear exaggerated after a week of cascading controversies, political triage by the administration and party leaders in Congress and lack of evidence to date of wrongdoing close to the Oval Office. "Absolutely not," Steven Miller, the recently resigned ...
Mo. infrastructure proposals fail at state Capitol
Numerous Missouri lawmakers wanted to seek voter approval to boost funding for Missouri's transportation system and pay for improvements at colleges and state facilities. Neither measure made it that far. State lawmakers wrapped up their annual session Friday without passing a proposed 1-cent sales tax for transportation or a state ...
Mo. lawmakers pass budget patch for kids' program
Legislation passed in the closing hours of Missouri's annual session Friday could patch a hole in the state budget for early childhood programs and some health care initiatives. Legislators gave final approval to two measures, each of which would order the transfer $55 million of general revenues into a newly ...
A look at Mo. legislative action during 2013
The Missouri Legislature concluded work Friday on its 2013 session. Here's a look at what passed and what failed. WHAT PASSED: ABORTION Requires a physician to be present when administering the initial dose of an abortion-inducing drug. HB400. BENEVOLENT TAX CREDITS Reinstates expiring tax credits for certain charitable donations, such ...
Analyst pegs revenue $3.2B higher than Gov. Brown
The state's independent budget analyst said Friday that California will take in $3.2 billion more in tax revenue than Gov. Jerry Brown estimated, providing Democratic lawmakers an argument to funnel more money into state programs and setting up a spending showdown with the administration. The Legislative Analyst's Office released its ...
Patrick restores some funds cut from Mass. budget
Citing improved tax collections, Gov. Deval Patrick's administration on Friday restored nearly $21 million in budget cuts, the bulk of which will go to local school districts. The funds that were restored amount to less than 10 percent of the $225 million in spending reductions that the governor ordered in ...
Tea party group says IRS asked about Walker recall
A Texas tea party group said the Internal Revenue Service asked about its involvement in verifying signatures provided in the effort to recall Republican Gov. Scott Walker, of Wisconsin. IRS officials asked for extensive information about its activities, including an explanation of its involvement with Verify the Recall, which worked ...
Mich. Senate votes to extend health claims tax
A continuation of a 1 percent tax on health insurance claims passed the state Senate Thursday, but yet to be resolved is how to ensure the levy brings in enough revenue for Medicaid, which serves 1.9 million low-income Michigan residents. The tax, which took effect nearly 17 months ago and ...
Lawmakers reach tentative property tax deal
Iowa legislators reached a compromise deal Thursday on a broad tax reduction package that includes commercial property tax cuts — a longtime priority of Gov. Terry Branstad's. Lawmakers said the tentative agreement will gradually reduce taxable assessments of commercial properties by 10 percent and provide property tax credits geared for ...
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