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Tax Reform

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NEWS
May 14, 1990 | BY LOU CANNON
When the Reagan administration was trying to save itself from the deficit consequences of the sky's-the-limit tax cut of 1981, a White House aide had a terrific idea. Knowing President Reagan loathed the thought of tax increases, he suggested Reagan be persuaded of the necessity for "tax reform. " And so was born the Tax Equity and Fiscal Responsibility Act of 1982, which raised more than $100 billion in new taxes under the guise of closing loopholes. The aide was Richard G. Darman, now director of the Office of Management and Budget and the best hope within the Bush administration for those who believe the nation has more to lose by ignoring the budget deficit than by raising taxes.
NEWS
July 18, 2011
President Obama is demanding a long-term budget deal, asking, "If not now, when?" How about in December, when he ignored his own debt commission? How about February, when he presented a budget that increases debt by $10 trillion over a decade? How about April, when he sought a debt-ceiling increase with no debt reduction? All of a sudden, he's a born-again budget balancer prepared to take on his own party with deep cuts in entitlements. Really? Name one. He's been saying he's prepared to discuss, engage, converse about entitlement cuts.
NEWS
April 9, 1986
The reaction to Sen. Robert O. Packwood's tax reform proposal demonstrates the resistance of many legislators toward tax reform. With the exception of a few lawmakers there is no genuine interest in the establishment of an equitable tax structure for every American. The lawmakers are content with the present regressive tax system and greet any sincere suggestion of reform with opposition, or stonewall it with counter-proposals designed to frustrate any honest reform efforts. What is wrong with Sen. Packwood's proposal that interest earned from investment in municipal bonds be taxable?
NEWS
May 11, 1989 | By Nathan Gorenstein, Inquirer Staff Writer
Tax reform isn't simple. Even the state's own explanation runs to 166 pages. But the central points can be summarized as follows: Municipalities and school districts can impose a personal-income tax on residents up to 2.25 percent. (Towns can levy a maximum of 0.75 percent, schools 1.5 percent.) Earned and unearned income can be taxed, but Social Security payments and pensions are exempt. A capital-gains tax can be levied on the profits from the sale of a house. Implementation of a local income tax means local municipal and school property taxes must be cut, in most cases, by at least 25 percent.
NEWS
May 14, 1989 | By Jeff Gammage, Inquirer Staff Writer
Abington Township formally opposed Gov. Casey's tax-reform plan last week, saying the package would give too many new taxing powers to government. By a 12-2 vote, the Board of Commissioners approved a five-paragraph resolution urging voters to reject the measure in Tuesday's primary election. A copy of the resolution was to be sent to the governor and to local legislators. "We need tax reform, there's no question," said board President Richard Fluge. "And I think this is a step in the right direction.
NEWS
March 5, 1987
Gov. Casey in his budget message Tuesday invited "the legislature to join with me and local government representatives in designing the specifics of local tax reform. " Pennsylvania clearly needs that, but in doing so it should ignore the poor advice recently offered by Edward G. Rendell, who is seeking the Democratic nomination for mayor. In answer to a question at a public forum, Mr. Rendell suggested a regional sales tax in Southeastern Pennsylvania as a way to provide wage-tax relief for suburban residents who work in the city.
NEWS
April 23, 1989 | By Robert F. O'Neill, Special to The Inquirer
The Media Borough Council has registered its unanimous opposition to Gov. Casey's tax-reform proposal and has announced plans to seek a water company rate increase effective July 1. Opposition to tax reform came in the form of a resolution by the council Thursday night urging borough residents to oppose the measure at the polls May 16. Council members said the change would hurt, not help, the borough. A referendum seeking approval or rejection of a new statewide taxing method is on the primary ballot and has already been scored by leading county Republicans.
NEWS
April 9, 1998
Memo to Pennsylvania lawmakers and Gov. Ridge: Look how the noose is tightening around the state's beleaguered personal-property tax. If not dead, it's on life-support. That's apparent from the ruling this week by the state Supreme Court that the tax on stocks and bonds discriminates against out-of-state companies by exempting in-state investments. While the high court stopped short of declaring the tax unconstitutional, it advised Montgomery County - where the tax was challenged by billionaire Walter H. Annenberg - that it faces a tough time proving it is legal.
NEWS
January 11, 2007 | By Daniel Hoffman
In assessing the Legislature's recent property-tax-reform deliberations, it seems fair to conclude that New Jersey's leaders fundamentally view tax reform as an accounting problem. In taking a "balance sheet" approach to tax reform, the Legislature has sought to generate savings from budget cuts and governmental efficiencies and to apply these savings toward increases in local aid. This approach resembles previous reform efforts in which homestead rebates, municipal-spending caps and local-aid formulas were all touted as answers to rising property taxes.
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NEWS
July 28, 2016
By Pete Sepp Democratic party leaders have their work cut out. Coming off a divisive primary, Hillary Clinton faces no small task in bridging divides in the party's core constituency while at the same time articulating a vision capable of retaining the White House come Nov. 8. Late last month, Democratic leaders began drafting the Magna Carta of those efforts: the party's official policy platform, a blueprint of priorities for the months, and...
BUSINESS
May 31, 2016 | By Erin E. Arvedlund, Staff Writer
Could a national sales tax be on the horizon? Since the Great Recession ended in mid-2009, America's real GDP growth has averaged just 1.8 percent a year, well below the nation's prerecession average of 3.5 percent growth. Slow growth in the economy demands tax reform, according to some economists. In response, Ed Liva, director of the Villanova University Graduate Tax Program, is hosting on Thursday the law school's first Tax Policy Symposium, "Fundamental Tax Reform and Tax Policy Issues in Election Year 2016.
BUSINESS
February 28, 2016 | By Joseph N. DiStefano, Staff Writer
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.
NEWS
September 30, 2015 | By Andrew Seidman, Inquirer Trenton Bureau
Gov. Christie said Monday that he would not consider raising the state's tax on gasoline unless lawmakers pared back other levies, though he didn't endorse a specific plan. Christie's transportation commissioner has said the state will run out of money for road, bridge, and rail projects in July. "I will consider any option that's presented to me as long as those options include tax fairness for the people of New Jersey," Christie said Monday morning at a breakfast in Morris County hosted by the Commerce and Industry Association of New Jersey.
NEWS
May 14, 2015
IN PAST City Council races, we've always been impressed with the wide variety of candidates that come up from the neighborhoods and community activism, "regular joes" who are dedicated to public service. These contenders are not always the best qualified, but their runs represent the essence of democracy - and a refreshing counterpoint to a City Council that has often represented political dynasties as much as, if not more than, the people's business. This time around, the large slate for at-large Council seats is impressive for a different reason: They represent a level of professional accomplishment in law, business and education that could bring a strong upgrade to the city's legislative body.
NEWS
May 14, 2015 | By Angela Couloumbis, Inquirer Harrisburg Bureau
HARRISBURG - Two measures dealing with issues that are key to any state budget deal - property taxes and pensions - began moving through the legislature Tuesday, with lawmakers pushing for swift action on both. The House began debate on a multibillion-dollar property-tax relief measure whose prospects are uncertain, while the Senate is poised to vote on a Republican-backed proposal to rein in the cost of public-employee pensions. Both bills are up for final passage Wednesday, after which legislators will break until June, when budget talks with Gov. Wolf will begin in earnest.
NEWS
December 5, 2014 | Inquirer Editorial Board
Rather than taking on the hard work of genuine tax reform, Congress plans to continue its sloppy approach to the issue by extending roughly 50 temporary tax breaks for another year. That sets up another crisis next year. It also means individuals and businesses can't keep accurate budgets because they don't know if their tax breaks will survive the next hostage-taking episode in Washington. The wind energy business, for example, is slumping because a key tax credit expired last year.
BUSINESS
October 30, 2014 | By David Sell, Inquirer Staff Writer
Challenged by financial analysts who had just learned of Pfizer Inc.'s declining revenue and small quarterly profit, chief executive officer Ian Read said Tuesday that the drugmaker would keep exploring the purchase of a foreign company in the hope of paying less tax in America, U.S. Treasury Department efforts to the contrary. New rules announced in September made a so-called tax-inversion deal "more complicated" and "potentially limits the value," Read said, but the right deal is still worthwhile.
NEWS
May 21, 2014 | By Andrew Seidman and Maddie Hanna, Inquirer Trenton Bureau
TRENTON - Senate panels advanced legislation Monday that would impose a tax on electronic cigarettes and change New Jersey's criminal justice system so judges can deny bail in certain circumstances. Gov. Christie, a Republican, has expressed support for both ideas. His $34.4 billion budget proposal for the fiscal year that begins July 1 projects that imposing the tobacco-product wholesale tax on e-cigarettes would generate $35 million in revenue for the state. The bill that advanced Monday would impose a wholesale sales tax rate of 75 percent on e-cigarettes.
NEWS
April 4, 2014 | By Chris Brennan
G OV. CORBETT found himself this week in a political pincer movement, with foes on his left and right railing about increased gasoline taxes and motorist fees. The ruckus reminded Grover Norquist of the presidential election 22 years ago, when Bill Clinton used then-President George H.W. Bush 's violation of a "no new taxes" pledge to unseat him. Bush signed the "taxpayer-protection pledge" from Norquist's Americans for Tax Reform. So did Corbett, back in 2010 when he was first running for governor.
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