The Push for Tax Reform Continues in Statehouses in 2014
When it comes to the scope and sheer number of tax reforms proposed and enacted in the states, 2013 was a year like none before. However, as states continue to tinker with their tax systems, most have tended to overlook the need for more fundamental tax reform to reflect structural economic changes. Tax reform, according to University of Tennessee professor William Fox, "would seem to achieve more goals than just revenue chasing. Other goals might include better revenue elasticity, improved fairness, reduced efficiency costs, and easier administration and compliance."
2014 is shaping up to be another busy year. At least four governors will push to revamp their states’ tax systems in 2014, and several more are proposing significant changes or cuts. The Institute on Taxation and Economic Policy has created a “Quick Guide to Key Trends and States to Watch in 2014 State Tax Policy Debates.”
Few issues are as important to the business community as taxes, and as a result, staying informed about tax policy changes and their implications is a critical job for Chambers of Commerce. To help you keep up, ACCE has updated its Chamberpedia page on Taxes with several new links and resources. Click here to check it out.
ACCE will continue to closely monitor state tax policy proposals as they develop and keep you up-to-date with the latest information.
If you have any questions about Tax Reform, policy positions on Tax Reform or additional resources to add to the Chamberpedia page, please contact Carmen Hickerson at CHickerson@acce.org.