Tag Archives: state and local tax payments

ILN Today Post

New federal tax law spurring state action in the form of legislative mitigation, plaintiff coalitions

In early January, Governing revealed that 25 states are facing budget shortfalls going into 2018, but “[t]hat’s better than the 31 shortfalls [that the government relations firm MultiState] found last January.” The states with high concentrations of oil and natural resource states, mostly in the Midwest and the Northeast, are hardest hit.

The piece noted that for some, like Rhode Island and Vermont, lawmakers should be able to resolve the discrepancies relatively easily. But others, like New York, “may have to consider significant changes to solve their fiscal problems.” New York faces a large deficit, as we described in our piece this week covering Gov. Cuomo’s budget speech.

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