California’s tax voucher program — which would allow Californians to pay state taxes ahead of time in exchange for a voucher that can be used to pay income tax obligations in future years — is an intriguing thought experiment. If implemented, it will be an interesting case study for other states to observe and learn from California’s experience. Continue Reading
In late July, Texas Comptroller Glenn Hegar delivered a bleak economic outlook for the state’s economy: the amount of general revenue funds available for the current biennium is expected to be $11.5 billion less than originally estimated. Should the state tap into its rainy day fund to offset the impact of the coronavirus pandemic and facilitate a stable recovery? Continue Reading
This blog post reviews the recent developments of one approach states have been exploring to secure additional revenue during the Covid-19 pandemic — imposing excise taxes on sports betting and on a closely related activity, daily fantasy sports (DFS). Continue Reading
This post reviews current developments in federal and state paid sick leave policies, and examines the key arguments of proponents and detractors. Continue Reading
The road to recovery is still full of economic challenges for many, including mid-sized businesses and nonprofit organizations. This post reviews loan programs and proposals that aim to fund these two types of entities, including a mid-sized business loan program and the Main Street Lending Program (MSLP). Continue Reading
With Congress recently passing the Paycheck Protection Program Flexibility Act, program recipients need to be aware of tax and financial reporting-related compliance issues. This blog post discusses three such issues where the rules are not entirely clear. Continue Reading
Lawmakers responded quickly to alleviate long-term damage to the economy by providing the Paycheck Protection Program (PPP) as a temporary source of liquidity for small businesses. Although the PPP has had a rough start, the lessons learned over the last two months can guide the Small Business Administration (SBA) to make improvements. Continue Reading