Tag: taxes

Local Budget Pressures are Real. So Why Don’t Cities Just Raise Taxes?

The toll of the current public health crisis continues to unfold on municipal budgets with revenue shortfalls anticipated to near $360 billion over the next three years. These shortfalls are impacting families and local economies nationwide as cities respond with tough decisions to furlough or even lay off dedicated staff and cut investments in critical

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What Cities Need to Do Now to Ensure Black Communities Get Stimulus Payments

Some people have already received their stimulus payment, some are waiting to receive them, and some may never receive them unless they also receive guidance from their city. Due to things like lower access to internet and banking, low-income Black individuals will likely face the greatest challenges in receiving a stimulus payment. Local leaders can

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Money Direct to Residents: Making Sense of CARES Act Payments

The federal government will be sending money directly to people as part of the recently passed Coronavirus Aid, Relief, and Economic Security Act or the CARES Act. Local leaders can take action now to make sure their residents keep more of those dollars in their pockets that can be spent in the local economy.  What is Coming  The funds being

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How Boston Helped Residents Get Bigger Tax Returns

Cities must be at the forefront of providing financial empowerment and tax equity strategies that include Volunteer Income Tax Assistance (VITA) and credit building at tax time. Using information about the Earned Income Tax Credit (EITC) to educate low and moderate-income taxpayers on the benefits of filing their tax returns while maximizing tax time for credit

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Pensions, Retiree Health Benefits, and Your City’s Bond Rating

This is a guest post by Les Richmond, Vice President and Actuary of Build America Mutual (BAM). Credit ratings are the most visible (and sometimes only) independent assessment of the fiscal status of a city’s government – they have a direct impact on borrowing costs and the affordability of infrastructure investments, and they can also

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Help Your Residents Claim the Earned Income Tax Credit

This Friday, January 26, marks the twelfth annual Earned Income Tax Credit (EITC) Awareness Day, an effort by the IRS to encourage local governments, community organizations and other stakeholders to bring attention to the EITC and opportunities for free tax filing services through Volunteer Income Tax Assistance (VITA) sites. These efforts bring billions of federal

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South Dakota Asks Supreme Court to Consider Online Sales Tax

For years, local authorities have tangled with online retailers over sales tax collection within communities. But this fall, a new development in a blockbuster Supreme Court case could force the issue into the national spotlight. In Quill Corp. v. North Dakota (1992), the Supreme Court held that states cannot require retailers with no in-state physical presence to

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Supreme Court Preview for Cities

Even though the Supreme Court’s next term won’t officially begin until October 6, the Court has already accepted about 40 of the 70 or so cases it will decide in the upcoming months. For a more detailed summary of all the cases the Court has accepted so far affecting cities, read the State and Local

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Consequences of Underfunding Transportation

What was billed as the release of a new report exploring the expected consequences of a 35 percent cut in federal funding of transportation programs quickly turned from a Washington, D.C. wonk-fest into far more interesting speculation about how Congress will expand revenue streams for the Highway Trust Fund. The setting was the joint release

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Economic Benefits of Green Cities

This post is written by Caitlin Geary, Associate within the Finance and Economic Development Program, Center for Research and Innovation at the National League of Cities. As energy and transportation costs rise, market demand for “green” grows and budget cuts continue to loom, communities are increasingly realizing the multiple benefits linking sustainability, cost savings and economic

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