Tax Cuts – Davidson News

Kansas Tax Cuts Stalled Amid Political Turmoil

February 29, 2024 by anuja01

In a recent turn of events, the Kansas legislative session has hit a snag as lawmakers grapple with proposed tax cuts. The Republican-led push for a flat tax, which aimed to provide substantial tax relief totaling $1.6 billion over three years, has met its demise. Despite bipartisan support for certain aspects of the plan, such … Read more

Tax Cutting Trend Hits Roadblocks as States Face Declining Revenues and Budget Challenges

January 10, 2024 by anuja01

In a notable shift from the tax-cutting trend observed over the past three years, several U.S. states are now facing headwinds as declining revenues and tighter budgets pose challenges to further reductions in income, sales, property, and gas taxes. This trend, driven by budget surpluses in recent years, is encountering obstacles as pandemic-era revenue surges … Read more