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California Should Change the Definition of “Capital Outlay” in Order to Create More Room Under the State Appropriations Limit.(The Legislature Can Do So By Majority Vote.)Proposition 13, passed in 1978, permanently cut California property taxes and made it more difficult to raise other taxes. Proposition 4, passed in 1979, placed a cap on the size of

(Critical) Observations on the Ohio District Court Decision Enjoining the Rule Limiting the Use of ARPA Relief Funds Provided to StatesThe decision goes to great lengths to reach an implausible result and does not seem fully aware of the nature and extent of existing federal-state entanglements as to budgeting.Ordinarily, the federal government provides funding to the

Back of the envelope calculations indicate significant revenue can be raised if California conforms to GILTI.The California Legislature is considering a bill (AB 71) that would subject 50% of a category of income derived from federal tax law, known as Global Intangible Low-Taxed Income (GILTI), to California’s corporate income tax. In short, GILTI represents

Most of us these days are worried about the pandemic. If that weren’t enough fun, there’s also economic collapse, especially when — and the tip of the canoe is already edging out over the waterfall — states reach an imminent fiscal cliff. State layoffs, service cuts, and tax hikes contributed very substantially to the Great Recession. For that reason,

States Should Borrow Rather than Make Brutal Cuts During a Recession and PandemicBy Darien Shanske and David GamageIn a world in which the level of government best suited to act (the federal government) is dysfunctional, subnational governments need to take extraordinary measures. Lest anything that follows be misunderstood, we have already argued that it is the federal