Hotel California (Such a Lovely Place), Unique Tax Policies Under Consideration

09/02/2020

  • Public finance entities balanced budgets mostly through spending reductions just after the Great Recession of 2008;

  • There seems to be a different climate now as the approach to balancing may need to be different this time;

  • The Los Angeles County Metropolitan Transportation Authority will examine a proposal to eliminate fares for all riders on buses and trains;

  • Also under consideration in California is Assembly Bill 2088, a net worth tax that would be assessed on former Californians for up to 10 years, even after they leave the state;

  • We addressed tax proposals in New Jersey, California, and New York in our Aug. 14 commentary, If Taxes Go Higher, Demand for Municipals Will Also Rise.

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