- New Mexico legislators took important steps last week to level the playing field between in-state mom and pop stores and multi-state big box stores when they sent Governor Martinez a bill mandating combined reporting, in other words, closing the loophole that allows national retailers to shelter their profits in no-tax states. Despite strong support among small business owners for closing corporate loopholes, the governor is likely to veto the legislation.
- Some Minnesota legislators are not backing down from their pledge to cut the business property tax, promising what tax cut advocates always promise: it will be good for the state’s economy. In effort to paper over the hole the cut blows in the budget, they propose to gut a tax credit for low- and middle income families and seniors who rent – a credit that was already reduced last year.
- The Washington State Senate overwhelmingly passed a bill that would require any new or expanded tax breaks to “sunset” (or expire) after five years. Washington already has over 250 tax breaks that automatically drain the state’s coffers every year without ever having to be voted on. Both Citizens for Tax Justice and The Institute on Taxation and Economic Policy (ITEP) support this kind of accountability, as does the Washington State Budget and Policy Center.