Rise to the moment of truth Thursday, February 2, 2023

Tag: TAX CUTS

U.S. Department of Treasury
Alabama wins federal case challenging Biden administration ban on state tax cuts

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.

David Bronner1
RSA’s Bronner tells legislators to 'think long and hard' about tax cuts

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.

tax money
Three possible tax cuts in Alabama in 2023

Alabama was one of the only southeastern states in 2021 and 2022 to not offer its citizens any major, broad-based sales or income tax relief despite large state budget surpluses recently.

Taxes, cut taxes
Justin Bogie: Lawmakers should take less money from you in 2023, not look for ways to spend more

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.

Money, dollars, bills
Stephanie Holden Smith: Finders keepers, losers weepers

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.

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Education budget chair State Sen. Orr says tax rebate, cut both under consideration

Lawmakers are grappling with what to do with a $2.7 billion education budget surplus with the 2023 legislative session around the corner.

Alabama flag money
Justin Bogie: Is this what fiscal conservatism looks like?

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.

Reeves
Mississippi plans income tax elimination while Alabama plans temporary rebate

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.

tax cut, taxes
Justin Bogie: Grocery and other permanent tax cuts 'on the table' in 2023, but lawmakers should think bolder

The talk of the legislature pursuing meaningful tax cuts during the 2023 regular session continues to pick up momentum.

AL Senate Orr Arthur
State Sen. Orr predicts both tax cuts, rebate — 'So much depends on where we are with the economy in March'

Lawmakers have been mixed in their public comments about what to do with a $2 billion budget surplus.

Reed
Senate Pro-Tem Reed tepid on possibility of budget surplus used for tax relief

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. 

IveyNoem
South Dakota, West Virginia governors announce major tax cut plans. What about Alabama?

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.

AL Senate Jones Andrew Facebook
State Sen. Jones plans bill to phase out occupational taxes

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.

Recession
Recession fears complicate tax talks in Alabama: 'There’s scary times out there'

Will the United States, and thus Alabama have been in or be in a recession by this time next year?

tax money
Alabama on 'an island' in Southeast — No major tax relief in 2021 and 2022

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.

AL State House Ashley Carter
House General Fund budget chair rules out ARPA-based tax break; says relief could come from education budget

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.

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House passes bill to give tax breaks to commercial fishermen

The Alabama House of Representatives on Thursday passed legislation to give ad valorem tax breaks for commercial fishermen. House Bill...

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House passes tax cuts for small businesses

The Alabama House of Representatives on Thursday passed a package of legislation that is designed to cut the tax burden on small businesses...

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Senate Committee advances bill to exempt COVID relief from state income tax

The Alabama Senate Finance and Taxation Education Committee gave a favorable report to a bill that would free Alabamians who received...

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AL Senate Committee votes to advance tax cuts

The Alabama Senate Finance and Taxation Education committee voted to give two tax-cut bills a favorable report on Tuesday. Senate Bills...

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Alabama Senator wants to prioritize bill to cut stimulus check amounts from state income tax

In 2021, the U.S. Congress passed the American Rescue Act. Americans received tax credit stimulus checks, many wired straight into...

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House GOP Caucus unveils “Standing Tall for Alabama” Agenda

Members of the House Republican Caucus leadership and agenda committee held a news conference on Wednesday where they unveiled the...