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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: tax revenue

tax revenue stories: 7 news summaries

(Newser) - US tax revenue is set to shrink 18% from last fiscal year to the current one, ending in October—the largest falloff since 1932, the AP reports. Individual income-tax receipts are off 22%, and corporate revenues have sunk an astounding 57%. “Our tax system is already inadequate to support... More »

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IRS • recession • Social Security • Internal Revenue Service • federal income tax • Federal government • tax revenue • Great Depression • financial crisis • economic downturn

(Newser) - From New York and Los Angeles to devastated Rust Belt towns, falling home prices are leaving local governments in a pinch, the New York Times reports. Desperate for extra cash, homeowners are petitioning assessors in droves to lower their property taxes and match property values. “It’s worthy... More »

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homeowners • tax revenue • home values • property values • refund • property tax • local government • assessor

Cash-Strapped States Raise Taxes as Revenue Declines

At least 10 states face substantial budget gaps

Apr 9, 09 7:31 AM CDT
(Newser) - A precipitous decline in tax revenue has at least 10 states considering major increases in sales or income taxes to close budget gaps that in some cases run into the billions, the Wall Street Journal reports. States like Oregon, facing a $4.4 billion budget gap and 10.8% unemployment,... More »

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California • taxes • income tax • Arizona • New York • Oregon • unemployment • tax revenue • budget gap • state sales tax • payroll taxes • state budgets

 Wall Street Bonuses Fall 44% 

State may lose $1B in tax revenue

Jan 28, 09 4:58 PM CST
(Newser) - Wall Street firms still dished out end-of-year bonuses in 2008, but they were a lot smaller. Cash bonuses fell 44% from the year prior, from a total of $33 billion to $18 billion, Reuters reports. That drop may take $1 billion in tax revenue from New York state, which is... More »

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Wall Street • New York City • unemployment • bonuses • budget deficit • tax revenue • employee • financial crisis • state budgets

More Riders, Pricier Fuel Stress Out Transit Agencies

Diesel expenses eat up shrinking budgets even as commuters abandon cars

May 30, 08 4:29 PM CDT
(Newser) - The same agencies that stand to benefit as commuters turn to public transit to escape high gas prices are finding themselves hamstrung by rising fuel costs, the Wall Street Journal reports. Ridership is up by as much as 35% for some bus lines, but the cost of diesel has doubled... More »

MORE ABOUT:
subway • budget • public transportation • budget cuts • sales tax • buses • tax revenue • fuel costs

Long Island Talks Secession From New York

County official irked over getting stiffed by Albany on funding

Mar 28, 08 5:36 PM CDT
(Newser) - Officials on Long Island have initiated a study on the economic feasibility of its secession from New York state, Newsday reports. While acknowledging the difficulties of establishing a 51st state, Suffolk County Comptroller Joseph Sawicki said the proposal is really about examining what Long Island contributes to greater New York,... More »

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Suffolk • Long Island • secession • tax revenue • Albany • New York state • comptroller • Joseph Sawicki

Building Costs Pinch Budgets

State and local government now struggling to pay for new projects

Jan 26, 08 12:43 PM CST
(Newser) - Rising interest rates, falling tax revenues, and construction costs that have skyrocketed are causing local and state governments to rethink projects as diverse as building new schools, repairing bridges, and roads, even constructing new levees in the Everglades, reports the New York Times. Experts say fast-growing global economies are... More »

MORE ABOUT:
road budget • new construction • tax revenue • state sales tax

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