Despite early projections that a potential recession may not have as hard-hitting of an impact on Alabama as previously expected, do not expect permanent tax relief for Alabamians in 2023.
It is our duty as citizens to do our own due diligence and separate fact from fiction. The consequences are too great to bury our heads in the sand and accept the status quo.
If there was truly an “emergency” and the funds were needed immediately to allow schools to continue to operate, why does so much of it remain unspent over two years later?
It is a simple choice for lawmakers. They can stop the record growth of government that the state experienced over the past four years and cut taxes, or they can continue to expand the bureaucracy until the money finally runs out.
The basic argument made by Rep. Pringle is that Alabama and the national economy will soon be in a steep decline. Because of this, the inference is that it would be fiscally irresponsible to provide permanent tax cuts to Alabamians.
On its face, it is understandable why Medicaid expansion is tempting for some lawmakers. The federal government currently pays a 90% match rate for states that elect to expand coverage.
As Governor Kay Ivey prepares to enter her second full term in office, could permanent tax relief finally be in the cards for Alabamians? The answer is, maybe, but it still seems unlikely that sweeping tax reforms for citizens are on the horizon.
State Sen. Garlan Gudger (R-Cullman) said that a portion of the record surplus should be used to pay off existing state debt and the remainder to “create a savings account.”
The argument that an economic recession is coming, and the state must be fiscally responsible to weather that storm, does not line up with the actions of the legislature over the last four years.
Last Friday marked the end of the 2022 fiscal year. For state government, it was another record-breaking year.
The Alabama Jobs Act is set to expire on July 31, 2023, meaning that economic incentives could be a major topic during next year’s regular legislative session.
As summer turns to fall, the drumbeat for the Alabama Legislature to enact meaningful tax reform legislation has picked up its pace. But there is still no action — only discussion of temporary relief and the same old excuses as to why long-term reforms will be challenging to pursue.
“Alabama budgets are in great shape.” That was the message last week from the Alabama Legislative Services Agency’s deputy director Kirk Fulford to a joint meeting of the legislative budget committees in Montgomery.
As the Legislature heads towards its 2023 regular legislative session, calls for Medicaid expansion are likely to increase. Alabama remains one of 12 states that has not expanded coverage under Obamacare.
Listen to 1819 News CEO Bryan Dawson on News & Views with Joey Clark as they are joined by Justin Bogie, Senior Director of Fiscal Policy at the Alabama Policy Institute, as they discuss $160 million in unemployment claim overpayments, which are being dismissed as insignificant and should be forgiven, while the same amount in tax cuts this year was touted as meaningful tax relief.
According to recent data from the U.S. Department of Labor, Alabama overpaid unemployment compensation benefit recipients by more than $164 million in 2020 and 2021.
There is no doubt that inflation is hurting many Alabamians right now, whether they be public or private sector employees or business owners. In June, inflation rose to 9.1 percent year over year, with record high gas prices being the underlying cause. But no one expects that trend to last. The Congressional Budget Office projects that inflationary pressures will begin to ease later this year and fall to 3.1 percent in 2023. From 1960 to 2021 the average annual inflation rate in the United States was 3.7 percent.
Last week President Joe Biden called on Congress to suspend the federal gas tax for three months. What was Governor Kay Ivey’s response? She called it a “gimmick, plain and simple.”
When Alabama lawmakers came into session in January, one of their first priorities was allocating the first half of Alabama’s $2.1 billion in American Rescue Plan Act (ARPA) funds. With the second half set to hit the state’s coffers soon, lawmakers should hit the pause button before spending any additional funds. If they don’t, it will cost all Alabamians.
State government continues to take more money from Alabamians than ever before. Will it use that money to continue the historic expansion of state government, or finally take less taxes from citizens?
During an appearance on Mobile radio FM Talk 106.5's "The Jeff Poor Show," Alabama Policy Institute senior director of fiscal policy Justin Bogie speculated on the future of Alabama's gas tax and what Ivey could do regarding the gaming question.
In less than two weeks, Alabama voters will head to the polls to cast their votes in the 2022 Republican and Democratic primary elections.
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