June 15, 2016 |
TRENTON - Gov. Christie on Monday suggested that he wasn't ready to support a proposal to revise New Jersey tax policy, including a hefty gas tax hike and phaseout of a levy on estates of the deceased. His remarks came as a coalition of Democratic and Republican lawmakers - backed by organized labor, business, and other groups - heralded the plan as game-changing legislation that would fund critical investments in roads and bridges while also saving taxpayers about $1 billion annually through other policy changes.
June 12, 2016 |
New Jersey lawmakers made a renewed push Friday to replenish the state's fund for road, bridge, and rail projects, which is expected to run out of money over the summer. One plan would likely raise the state's gas tax, currently the second lowest in the nation at 14.5 cents per gallon, to 37.5 cents per gallon. A gallon of regular gasoline in New Jersey cost an average of $2.15 on Friday, according to the consumer group AAA. Senate Budget Chairman Paul Sarlo (D., Bergen) and Sen. Steve Oroho (R., Sussex)
June 4, 2016 |
Philadelphia City Council President Darrell L. Clarke told a panel of state lawmakers Thursday that he opposed a bill that would amend the state constitution to allow Philadelphia to impose different tax rates on commercial and residential real estate. Although he would like the General Assembly to be allowed to establish classes of property - currently forbidden by the state constitution's uniformity clause that requires all real estate to be treated the same - he said the current bill could tie the city's hands in harmful ways.
May 20, 2016 |
MAJOR RESISTANCE in the seven other countries proposing or adopting taxes on sugar-sweetened drinks has come from the beverage industry. However, it's only in the United States where a prominent progressive voice such as Democratic presidential candidate Bernie Sanders has offered strident opposition. In other countries, such as the United Kingdom, France and Mexico, progressives have promoted these taxes. The beverage industry and the few progressives who align with it call these taxes "regressive," warning that they that hurt the poor.
May 5, 2016 |
WHEN JIM KENNEY was elected mayor, we knew what we were getting: a man who wanted to protect and to grow the city and its children. That's what we got. Many Philadelphians of goodwill are in an ethical quandary: Do we agree that a robust pre-K covering the vulnerable children of Philadelphia is a good idea? Also parks, libraries, rec centers and green jobs? Of course. There's a plan for that: It'll cost $95 million a year over four years. Who's going to pay for it? There's the rub. The funding solution lies in an increased sales tax, an excise tax, really.
May 1, 2016 |
Now that Republicans and Democrats have mostly sorted their choices for president, isn't it time for Donald Trump, Hillary Clinton, and their interpreters to show us more about how they will raise money and pay for their schemes of growth and greatness? How do Americans want our taxes spent? "Helping to ensure the Social Security system will not run out of money should be the top economic issue addressed by the next U.S. President," agreed 640 of the 1,000 adults queried last month by Harris Poll for the American Institute of Certified Public Accountants, the pros licensed to track money for businesses and people who can afford CPAs.
February 29, 2016 |
New Jersey lawmakers are considering several changes to tax policy that could affect residents across the income spectrum. The five-year plan Gov. Christie implemented in 2011 to fund the state's roads, bridges, and rail expires when the fiscal year ends June 30. With the Transportation Trust Fund set to run out of money then, lawmakers widely expect to raise New Jersey's 14.5-cent-per-gallon tax on gasoline, which is the second lowest in the...
February 28, 2016 |
Mayor Kenney joined business groups, construction and janitors' union leaders, and state legislators from both parties Friday to endorse a tax-reform plan backed by Center City's biggest office landlord. A bill sponsored by State Reps. John Taylor (R., Phila.) and Bill Keller (D., Phila.), among others, would change Pennsylvania law to allow the city to boost business real estate taxes by 15 percent above residential real estate taxes, then use the extra to cut city wage and business-privilege taxes.
January 4, 2016
This holiday season, Congress decided, once again, that it is really important to give. The budget agreement passed in mid-December was an example of the good old-fashioned pork-trading typical of past Congresses - at least until political purity and party warfare became the preferred form of non-governing. While going back to the future did prevent another government shutdown, it is doubtful the old strategy amounts to responsible budgeting policy. The bipartisan tax-and- spending Christmas tree has too many special deals under it to list in one, two or maybe even three of these columns.
November 25, 2015 |
The drugmaker Pfizer Inc. said Monday that it had agreed to take control of Allergan plc, the manufacturer of Botox, in a $160 billion transaction that would be the largest pharmaceutical deal in history. The deal is largely prompted by Pfizer's desire to move its company registration to Ireland so it will pay lower corporate taxes than it does in the United States. If completed, it would combine Pfizer's well-known drugs Viagra and Lipitor with Allergan's famous wrinkle remover. Pfizer would pay Allergan shareholders to absorb their company and take its Irish registration, which was achieved through an earlier acquisition.