The ongoing debate surrounding the cap on state and local tax deductions (SALT) illuminates more than just fiscal strategies; it unveils the profound disarray plaguing state revenues across the nation. As vigilance in personal income tax collection shows slight gains, corporate and sales tax revenues continue their downward spiral. This inconsistency raises crucial questions about
Politics
In an era where climate change and urbanization collude to challenge traditional transportation infrastructure, the funding allocated for public transit remains on shaky ground. The Highway Trust Fund (HTF), integral to supporting public transit, faces a dire outlook as revenue streams are inadequately adjusted to meet the evolving needs of our cities. This trend is
In the ongoing economic turmoil surrounding Puerto Rico, a high-stakes clash between the Puerto Rico Oversight Board and bondholders of the Puerto Rico Electric Power Authority (PREPA) has emerged. Central to this debate is the astronomical $3.7 billion administrative expense claim posited by PREPA’s bondholders as they navigate the waters of bankruptcy. Yet, this is
In recent years, the state of infrastructure in the United States has reached a critical junction, exacerbated by the stringent fiscal realities facing public finance. The Department of Transportation, particularly during the Trump administration, has recognized the need for a decisive shift—a move towards more private investment to rejuvenate public works. With a backlog of
The recent waves of tariffs introduced during the Trump administration have started to threaten an economic fabric that many might overlook—our small businesses. As the Federal Reserve’s Governor Michael Barr pointed out in a speech, these tariffs are not just abstract figures affecting large corporations; instead, they’re tied to the livelihoods of ordinary Americans. Understanding
The abrupt decision by Moody’s Ratings to downgrade Maryland’s standing from a coveted triple-A to an Aa1 rating serves as a vital bellwether for the state’s financial future. The agency cited significant concerns over federal policy shifts and the reliance on federal employment, painting a dire picture of economic vulnerability. This move is more than
As travelers increasingly expect seamless air travel experiences, Newark Liberty International Airport stands as a glaring example of a broader issue plaguing American infrastructure. The airport, in part due to decades of inadequate investment and maintenance, has been thrust into the spotlight as its crumbling facilities and outdated technology create a growing number of operational
The recent unveiling of the House Ways and Means Committee’s preliminary draft of the tax legislation, informally dubbed the “big beautiful bill,” raises several red flags regarding our nation’s fiscal health. While the full text is anticipated to drop soon, the initial 28 pages suggest an aggressive move to solidify provisions of the 2017 Tax
As the reverberations of the budget reconciliation process echo through Congress, one transformative program has emerged that could redefine the landscape of energy production in the United States: the elective pay program. Instituted under the Inflation Reduction Act, this initiative enables public power entities to convert tax credits into cash, marking a monumental step forward,
The ongoing debate over the State and Local Tax (SALT) cap is not merely a statistical adjustment in tax policy; it exemplifies a poignant clash of values, economic realities, and political strategies. As Congressman Nick LaLota rightly underscores, it’s about fairness, equity, and, importantly, maintaining a viable political landscape amidst an increasingly polarized Congress. With