As states grapple with fluctuating tax revenues, particularly in light of the cap on state and local tax (SALT) deductions, the financial landscape appears less than encouraging. Recent assessments indicate that while personal income tax revenues have seen modest growth, both corporate and sales tax inflows are declining. The harsh reality laid out by tax
Politics
In the ever-changing landscape of American infrastructure, transit funding is a contentious topic fraught with uncertainty. The ongoing struggle to secure adequate funding reveals a troubling insight: even as cities and towns increasingly rely on robust public transportation systems, support for these initiatives is waning. The Highway Trust Fund, primarily fueled by fuel taxes, has
Puerto Rico’s economic predicament has been overshadowed by a labyrinth of legal battles, particularly highlighted by the conflict between the Puerto Rico Oversight Board (FOMB) and the bondholders of the Puerto Rico Electric Power Authority (PREPA). At the center of this standoff is a staggering claim of $3.7 billion in administrative expenses that the bondholders
In the face of deteriorating roads, crumbling bridges, and outdated transit systems, the American infrastructure crisis has reached a boiling point. The current methods of funding and managing these vital projects are clearly failing the very people they are designed to serve. The Trump administration’s Department of Transportation highlighted these systematic defects, advocating for a
In a world increasingly intertwined by globalization, tariffs and trade policies wield enormous influence over the economic fabric of a nation. The recent pronouncement by Federal Reserve Governor Michael Barr strikes a resonant chord—small businesses could face dire consequences stemming from the new tariffs initiated under President Donald Trump. These tariffs do not merely represent
In a startling turn of events, Moody’s has stripped Maryland of its coveted triple-A rating, downgrading it to Aa1. This decision is more than just a financial recount; it shines a spotlight on a state that appears increasingly vulnerable to the whims of federal policy and economic shifts. The $1.6 billion bond sale, which was
In an age of rapid technological advancement, it is startling to see our nation’s airport infrastructure languishing in outdated systems, especially at Newark Liberty International Airport. Recent announcements from Secretary of Transportation Sean Duffy paint a grim picture: a reduction in flights tied to systemic failures that are decades in the making. How did we
On a frenzied Friday in the House Ways and Means Committee, the preliminary draft of the tax portion of the so-called “big beautiful bill” was unveiled. Promoted as a panacea for economic woes, this 28-page document proposes to solidify the provisions of the 2017 Tax Cuts and Jobs Act—essentially putting a gilded seal on tax
The landscape of energy financing is undergoing a seismic shift as publicly owned power companies embrace the elective pay program, a notable initiative stemming from the Inflation Reduction Act. The essence of this program lies in its ability to transform green energy tax credits into immediate cash, positioning it as a transformative tool for the
As the political landscape continually shifts, it’s becoming increasingly clear that the state and local tax (SALT) deduction cap has emerged as a significant flashpoint within the GOP. Congressman Nick LaLota of New York recently underscored this critical issue, pointing out not only the inherent fairness of adjusting the SALT cap but also how it