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• W335038412 abstract "Defenders of the recent tax-cut deal between President Clinton and the GOP contend that Republicans could have achieved nothing better with their slim majority in Congress and a Democrat occupying the White House. Implicit in this defense is the fallacy that cutting taxes requires one-party rule. Yet this excuse hardly survives a tour of the 50 many of which are governed by executive and legislative branches controlled by different parties. Tax cuts have rarely been as plentiful as in 1997. Even some states with notoriously high burdens, such as New York, Connecticut, Rhode Island, and Minnesota, gave taxpayers significant relief this year. The real tax-cutting action in America is not happening on Capitol Hill, but in the states, writes Steve Moore of the Cato Institute in Arthur LafferAEs economic newsletter. Although the relief offered by the federal cut is minuscule--a 1 percent reduction in federal taxpayer liability over five years, Moore estimates--1997 caps a three-year streak of state tax-cutting that has reduced aggregate state taxes by about 3 percent, with much more to come. Taxpayers owe their good fortune to a variety of factors, including bulging state budget surpluses, fiscally conservative officials, and constant pressure from committed anti-tax advocates. High Noon for High Taxes 1994, New York governor George Pataki campaigned on a 20 percent cut in income-tax rates. In New York, itAEs unusual for a politician to keep his word, says Ray Keating of the Coalition of New York Taxpayers. Yet the state passed the cut in 1995 and implemented it fully by 1997. the 1997 legislative session, Pataki pushed through an increase in the estate-tax exemption, despite the state assemblyAEs liberal leadership and commanding Democratic majority. Of course, many New York conservatives complain that the governor achieved his cuts at the expense of other fiscal targets, such as rent control and rising spending. But the case can be made that oppressive taxation is the heaviest drag on New YorkAEs economy and that halting the exodus of businesses and residents from the state should be the first priority. Every year, the Washington-based Tax Foundation calculates each stateAEs tax freedom day--the date by which the average taxpayer has earned enough income to pay his entire federal, state, and local bill for the year. Residents of Connecticut reach that date on May 22, later than those in every state but New York. Battling a state legislature that stripped all cuts from his budget bill, Republican governor John Rowland used the same hardball tactic that Lowell Weicker, his liberal predecessor, had used to impose a state income in 1991: He threatened to veto the entire budget. If a governor threatens to veto budgets, he can get a lot of movement, observes activist Ken Von Kohorn. Sure enough, the legislature restored the cuts they had yanked from RowlandAEs bill during 11th-hour negotiations. To secure this taxpayer relief, Rowland and the Republican legislators had to allay fears that state services would suffer. But as a result of privatization and streamlining, the Rowland administration will have cut taxes by $1.3 billion in 1999 while managing to end the 1996-97 fiscal year with a budget surplus of $263 million. On Their Own Tax cut fever is alive and well in the South, where Democrats have a lock on most state legislatures but the governorships have been trending Republican over the past decade. Several GOP governors have shown they can bridge the partisan divide over cuts. Often it is the personality and cunning of the governors that drive the tax-cutting momentum. Arkansas governor Mike Huckabee, a Republican, astonished the overwhelmingly Democratic legislature when, during his 1997 State of the State address, he abruptly abandoned his complicated grocery-tax refund plan to embrace a hodge-podge of half-serious Democratic tax-cut proposals without any prior warning. …" @default.
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• W335038412 date "1997-11-01" @default.
• W335038412 modified "2023-09-24" @default.
• W335038412 title "Fifty Ways to Cut Your Taxes" @default.
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