Congress Has Chance to Cut Corporate Welfare
State Governments Collecting More in Taxes for Third Straight Year
Instead of Growing Government, Some Allow Workers to Keep their Money
(Washington, D.C.) – According to recently released census data, 48 of the 50 U.S. states saw increases in total tax revenues in 2013 – with only Alaska and Wyoming seeing revenues fall from 2012. The amount collected hit a record high and represents the third year in a row that state tax revenues rose overall – with state income taxes rising by more than 10 percent from 2012. Two years ago 31 states faced deficits totaling $55 billion. Now the states have had an opportunity to fix fiscal balance sheets. The states with the largest increase in income tax revenues were North Dakota (48.4 percent), Tennessee (44.2 percent), California (21.4 percent) and New Hampshire (21.4 percent).
With many experiencing revenue growth, it is reported that 18 states acted to reduce the tax burden and allow working families to keep a greater share of their hard-earned tax dollars. A number of states – including Indiana, Iowa, Kansas, Ohio, and Texas – have returned at least $1 billion to citizens, primarily by reducing individual income taxes.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
"At a time when Americans are finding ways to cut their own budgets due to a weak economy, a disappointing job market and the continued stresses of a costly healthcare law, state officials must keep faith with their constituents – and protect their interests. Now that balance sheets have improved, it's more important than ever that lawmakers remember that the money belongs to the taxpayers.
Just like the federal government, the states need to stop wasting taxpayer money and live within sensible spending limits. That's the best way to grow the economy, create jobs, and get people back to work. It's time to allow people to spend more of their money as they see fit, instead of using it to grow unproductive government agencies."
For interviews with a LIBRE representative, please contact: Brian Faughnan, 703-678-4581 or Steven Cruz, 202-578-6173.