In several states, some governors were caught off guard by how personal income tax payments fell well below expectations. But, states should not have been so surprised, writes Norton Francis.
The Congressional Budget released its long-term budget outlook. Although the size of the US deficit isn't a problem right now, the CBO projects it to get bigger after a few years. There are five other takeaways from the CBO's budget outlook.
Between June 2013 and June 2014, Kansas saw its tax revenue fall by 11 percent. Why is Kansas still making so many tax cuts then, questions Howard Gleckman.
Congress needs to start being realistic and serious about the future of the Highway Trust Fund, writes Howard Gleckman. Although the Highway Trust Fund worked in the past, it is time for a long-term solution – not just pension smoothing and other gimmicks.
The House Ways and Means Committee will vote on how to fix Highway Trust Fund on Thursday. In Flint, Michigan, the city wants to cut its retirees' health benefits to avoid bankruptcy.