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Nine States Cutting Income Taxes to Boost Recovery
[Foundation for Economic Education] Finally, some good news. In nine states and counting, residents will owe less on their next state income tax bill as local officials seek to stimulate the economic recovery by lowering taxes. Spoiler alert: None are on either coast. Arizona is the latest state to slash income taxes, Fox Business reports, with Governor Doug Ducey signing into law last week a "flat tax" reform that will lower the average Arizonan's tax bill by $340. According to the Tax Foundation, the other states to lower income taxes include Ohio, Idaho, Oklahoma, Iowa, Louisiana, Missouri, Montana, and New Hampshire. Others such as North Carolina and Wisconsin are currently considering doing the same. Remember the Dems desire to restrict lowering taxes with 'Stimulus' funds? I think the SCOTUS (finally) helped to block that. Posted by: Bobby 2021-07-11 |
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