A federal court ruled in favor of Alabama in a dispute against the U.S. Department of Treasury over a provision in the Biden Administration’s $1.9 trillion American Rescue Plan (ARP) that would have punished states for cutting taxes.
Despite large state budget surpluses, legislators should “think long and hard” about cutting taxes in 2023, according to Dr. David Bronner, Retirement Systems of Alabama’s CEO.
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.
Withholding is arguably one of the most damaging things ever done to our country because it allows the government to take what is rightfully earned by you (your money) before you even get your hands on it.
Lawmakers are grappling with what to do with a $2.7 billion education budget surplus with the 2023 legislative session around the corner.
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.
Mississippi Gov. Tate Reeves (R) announced Tuesday his plans to further reduce the state's income tax until it is entirely eliminated over the next four years.
The talk of the legislature pursuing meaningful tax cuts during the 2023 regular session continues to pick up momentum.
Lawmakers have been mixed in their public comments about what to do with a $2 billion budget surplus.
Reportedly, tax revenues into Alabama's Education Trust Fund (ETF) hit a record $10.4 billion, a whopping 20.54% higher than a year earlier.
In another sign that Alabama needs to pass major tax relief soon to remain competitive with much of the rest of the nation, South Dakota Gov. Kristi Noem and West Virginia Gov. Jim Justice both announced major tax cut proposals for their respective states this week.
Many Alabamians may soon find some financial relief if State Sen. Andrew Jones' (R-Centre) bill to reduce municipal occupational taxes makes it through the Legislature next session.
Will the United States, and thus Alabama have been in or be in a recession by this time next year?
Alabama was the only state in the Southeast to not offer its citizens any broad-based, major sales or income tax relief in 2021 or 2022.
According to State Rep. Steve Clouse (R-Ozark), tax relief will not likely be a part of the ARPA appropriations but could come from other sources.
The Alabama House of Representatives on Thursday passed legislation to give ad valorem tax breaks for commercial fishermen. House Bill...
The Alabama Senate Finance and Taxation Education Committee gave a favorable report to a bill that would free Alabamians who received...
In 2021, the U.S. Congress passed the American Rescue Act. Americans received tax credit stimulus checks, many wired straight into...
Members of the House Republican Caucus leadership and agenda committee held a news conference on Wednesday where they unveiled the...