Topic: State and Provincial Budgets

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Briefing
Six 2012 races where the tea party counts

After playing kingmaker in the 2010 election cycle, the tea party movement is having a less prominent role in 2012. But its support or opposition could swing some key races and even determine whether Republicans win control of the Senate. Here are six US Senate contests where the tea party could make a difference.
Marco Rubio & 9 likely Republican VP candidates

Too soon to start speculating about possible Republican vice-presidential candidates? Evidently not. Mitt Romney's rise to the level of presumptive presidential nominee seems to have given political writers and pundits the go-ahead to begin one of the favored handicapping contests in all of politics.
Online gambling 101: What the new gambling expansion means for states

Online lotto – and virtual slot machines, blackjack, and poker – could be coming to your state or one near you. Here are five questions on internet gambling, following the US Justice Department's policy reversal late last year, possibly producing a boon to both the industry and state budgets.
In Pictures: Who's who on the US deficit super committee
Election 101: 11 questions about Rick Perry and his White House bid

The Texas governor made clear his intention to run for president with appearances in South Carolina and New Hampshire on Saturday and a planned trip to Iowa on Sunday.

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Tax VOX
New online tool to help families maximize tax, transfer benefits

State taxes and transfers can be an important, albeit complicated form of assistance for low-income families. A new interactive calculator aims to help guide families through the process, including the options when family income increases.
States should fold on Internet gambling

California and New Jersey, each seek more revenue, are leading the states toward Internet gambling, starting with online poker. But this all-too-easy form of gaming would come with at a high cost to society – and government.
Jerry Brown proposes billions in cuts. Are Californians getting his message?

With California's budget shortfall soaring, Gov. Jerry Brown (D) proposes broad, painful cuts for state workers and programs. Without new taxes, he warns voters, the cuts will be even worse.
California facing higher $16 billion shortfall

California's budget deficit has swelled to $16 billion and will force severe cuts to schools and public safety if voters fail to approve tax increases in November, warns Gov. Jerry Brown.
In Richard Lugar defeat, a tea party road map for revamping Washington?

Six-term Sen. Richard Lugar (R) of Indiana lost by a landslide to a tea party-backed challenger in Tuesday's GOP primary. The outcome buoys the tea party movement nationally, but some say Lugar's problems were unique to him.
Tax VOX
Tax reform goes local. What's the effect?

The need for fundamental federal tax reform is critical.  Often overlooked, however, is the fact that any such reforms will also affect the tax and fiscal policies of state and local governments.
Briefing
Six 2012 races where the tea party counts

After playing kingmaker in the 2010 election cycle, the tea party movement is having a less prominent role in 2012. But its support or opposition could swing some key races and even determine whether Republicans win control of the Senate. Here are six US Senate contests where the tea party could make a difference.
Detroit and Michigan come to terms on bailout, averting bankruptcy

After weeks of protest, Detroit's city council agrees to a deal that directs budgetary matters to an outside advisory board, but avoids the sweeping state takeover that many residents opposed.
Why the Simpson-Bowles budget defeat isn't the end of the line

Simpson-Bowles is still the top bipartisan budget deal out there – and Congress may need it when it faces a showdown in December over the expiring Bush tax cuts and mandated spending cuts.
Marco Rubio & 9 likely Republican VP candidates

Too soon to start speculating about possible Republican vice-presidential candidates? Evidently not. Mitt Romney's rise to the level of presumptive presidential nominee seems to have given political writers and pundits the go-ahead to begin one of the favored handicapping contests in all of politics.
Tax VOX
Low-income households would shoulder Ryan's tax burden

The budget Paul Ryan released last week is, essentially, an effort to have low- and middle-class households bear the entire burden of closing the fiscal gap and bear the costs of financing an additional tax cut for high income households.
Detroit teeters on brink of bankruptcy as state takeover looms

A state-appointed commission looking at ways to help Detroit avoid bankruptcy must deliver its report by Monday. A state takeover is a real possibility.
Tea party insurgency could unravel Paul Ryan Republican budget plan

Conservatives in Congress, led by three tea party senators, are balking at Rep. Paul Ryan's Republican House budget, saying it doesn't balance the budget quickly enough.
Robert Reich
The GOP's tax cut trick

When Republicans have nothing else to attack, they call for a tax cut. And it works.
Michigan delivers ultimatum on Detroit finances

While the plan leaves the Detroit mayor as "emergency manager," he can be replaced by a state appointee if he does not cooperate with state officials.
Chellie Pingree, Maine Rep., decides against Senate bid

Pingree said it was a difficult decision and that she's grateful for the support she's received from across Maine and the country.
Online gambling 101: What the new gambling expansion means for states

Online lotto – and virtual slot machines, blackjack, and poker – could be coming to your state or one near you. Here are five questions on internet gambling, following the US Justice Department's policy reversal late last year, possibly producing a boon to both the industry and state budgets.
Robert Reich
Corporations don't need tax cuts. Why is Obama proposing them?

The Obama administration is proposing to lower corporate taxes from the current 35 percent to 28 percent for most companies and to 25 percent for manufacturers.  But American companies are booking higher profits than ever.
No budget? No problem! The strange politics behind a budgetless America.

President Obama has proposed a federal budget. Congress looks sure to ignore it, and Senate Democrats show no desire to pass any budget. It would be the fourth straight budgetless year.
Obama's NASA budget favors a space telescope over Mars exploration

The proposed 2013 federal budget shifts funding away from missions to Mars and emphasizes manned spaceflight and astronomy.
Tax VOX
What tax reform would mean at the state level

Congress could go a long way towards fixing the federal system without destroying state revenue codes—but only if reform is done carefully.
Robert Reich
Let's fix jobs before we fix the deficit

January's employment report is positive, but the US job market is far from healthy.
Can Facebook IPO help solve a state budget crisis?

The Facebook IPO could bring California as much as $500 million in tax revenues from capital gains. Depending on whom you talk to, that's a significant help or a drop in the bucket.
Carl Levin: Mitt Romney criticism of Obama defense budget not factual (+video)

In recent Republican presidential primary debates, Mitt Romney has blasted President Obama's plan to trim defense spending. Senator Carl Levin says his criticism is just politics.
Is California Gov. Jerry Brown's 'ransom' budget an empty threat?

California Gov. Jerry Brown proposed a state budget Thursday that would cut $4.8 billion from education – but only if a ballot initiative to raise taxes fails. Problem is, legislators are balking.