States have historic amounts of leftover cash
Some are using it more carefully than others
A quirky law calls on Massachusetts to send back billions of tax dollars this year. Passed in 1986, it orders the state to refund taxpayers when revenue growth outpaces wage growth. For the first time since 1987 it has been triggered. Massachusetts must return up to $3bn, 7% of tax revenue.
This article appeared in the United States section of the print edition under the headline “The great rebate”
United States August 27th 2022
- Biden spends hundreds of billions on reducing student-loan debt
- States have historic amounts of leftover cash
- America’s new “national teacher shortage” is neither new nor national
- Pink Sauce and the fashion for homemade food in America
- American cities want rent control to rein in housing costs
- America’s border crisis reaches New York, by bus
From the August 27th 2022 edition
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