States Scramble to Boost Tax Revenue as Federal Aid Dries Up

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With tax revenue receipts still in the tank for most US states, they are scrambling for ways to boost tax receipts.  Accounting Today reports: States are intensifying theirefforts to confront the challenge of winnowing down budget shortfalls by raising sales tax rates, increasing the number of items taxed, and more aggressively asserting nexus. “States are […]

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Municipal bond yields continue to “break out” as investors are (finally) coming to the realization that local governments, which lack their own printing presses, may have problems making good on their outstanding debt.  The Financial Times reports: The sharpest swings in the muni market have been seen in the $100bn so-called “Build America bonds” – […]

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