Income taxes

The "no SALT no deal" Democrats appear ready to support the compromise reconciliation package negotiated in the Senate.

The bill from Chuck Grassley and other Senate Republicans would extend the $10,000 cap on the state and local tax deduction for federal income tax filers.

Sponsors of the Supporting American with Lower Taxes Act see it as a potential compromise on the contentious state and local tax deduction cap issue.

Democrat-leaning states argue that the $10,000 SALT cap deduction is politically motivated and violates the U.S. Constitution.

President Joe Biden's $1.7 trillion bill passed the House after months of debate and without any of the municipal bond market's priorities.

The Build Back Better reconciliation bill would raise the SALT cap to $80,000 from $10,000, and that impact varies widely from state to state.

Two major pieces of President Joe Biden's domestic agenda, which carry implications for the municipal bond market, advanced in the House Friday.

The SALT deduction cap could be increased, suspended or repealed.

SALT relief was not part of the initial language in the reconciliation bill, but several moderate Democrats say they won't support the legislation without it.

In the first quarter of 2021, state personal income rose by 14.4%, the largest year-over-year increase since reporting began in 1948.

The future is looking up for Salt Lake City International Airport as it continues redevelopment with $900 million of revenue bonds.

The Biden administration wants to increase IRS funding for enforcement to close the gap between taxes owed and taxes that are paid.

Three House Democrats say they won’t support tax hikes unless the Biden tax plan includes a repeal of the $10,000 cap on state and local tax deductions.

Because the IRS changed filing dates for income tax returns as a result of the coronoavirus , Georgia's net tax collections surged 42% last month.

Lawmakers received word of the improved forecast just before the release in early March of the first-draft proposal for the state’s two-year budget.

The city relies on the levy as a whole for 43% of its general fund revenue amid a national debate over work-from-home dynamics that could reach the U.S. Supreme Court.

New Hampshire wants the Supreme Court to hear its challenge to income taxes its neighbor levies on employees who began working from home during the pandemic.

The incoming Biden administration last week proposed direct federal aid of $350 billion to state and local governments as part of a proposed $1.9 trillion coronavirus relief bill.

The defeat of Gov. J.B. Pritzker's "Fair Tax" strikes down a pillar of his plan for the state's wobbly finances and increases risk to the state's bond ratings.

The fate of the state budget and ratings may depend on the progressive income tax ballot measure. Midwest voters also face $2.3 billion of bond measures Tuesday.