Because the experience of overbearing British central authority was vivid in colonial minds, the drafters of the Articles deliberately established a confederation of sovereign states. The Articles were written in —77 and adopted by the Congress on Nov.
Download data In the fourth quarter ofstate tax revenue collectively swelled to a new high of 9.
That was up from 7. After nearly two years of weak tax revenue growth, many states reported robust gains for the end of last year as Congress prepared to pass the Tax Cuts and Jobs Act.
An unusually large number of states—15—saw revenue spike by at least 10 percent in the fourth quarter of compared with the same period a year earlier. Some growth was driven by taxpayer behavior, resulting in a one-time revenue bump.
Taxpayers—especially high-income earners—had an incentive to accelerate the timing of payments to states before a long-standing tax break was cut back under the tax law passed last year.
But the growth spurt may be short-lived. States can expect weaker growth in the first quarter ofaccording to the Nelson A.
Rockefeller Institute of Government. As states come out of a period of exceptionally slow revenue growth, the volatile revenue pattern ahead poses a new challenge.
The latest results mean that the 50 states combined had the equivalent of 9. Total state tax revenue has rebounded more slowly after the recession than it did after any of the three previous downturns.
But trends have varied widely by state. In nine of the 34 states in which collections had recovered from their recession losses by the fourth quarter oftax revenue—and thus purchasing power—was more than 15 percent higher than at its peak before or during the recession.
Conversely, collections were down 15 percent or more in two of the 16 states in which tax revenue was still below peak.
As states regain fiscal ground lost in the recession, policymakers face pressure to catch up on investments and spending postponed because of the downturn. That may be more difficult in states where tax revenue remains below its previous peak. But even a return to peak levels can leave states with little extra to make up for cuts in federal aid or to pay for costs associated with population increases, growth in Medicaid enrollment, deferred needs, and accumulated debts.
Nine states posted tax revenue rebounds of 15 percent or more: North Dakota remained the leader among all states in tax revenue growth since the recession, although its collections have dropped dramatically since the plunge in oil prices.
At the end of that year, receipts hit a high of Oregon and Colorado This means the state collected only about 12 percent as much in inflation-adjusted tax dollars as it did at its short-lived peak inwhen a new state oil tax coincided with record-high crude prices. Without personal income or general sales taxes, Alaska is highly dependent on oil-related severance tax revenue, which began falling even before worldwide crude prices declined in as its oil production waned.
Just one additional state was down more than 15 percent from its previous peak: As energy prices picked up somewhat, tax revenue declines seen since tapered off in eight states that depend on fossil fuel production: Louisiana also raised sales, cigarette, and alcohol taxes in All major tax streams recorded stronger gains, including sales taxes, which have consistently trailed the growth seen in past economic expansions.
The largest gains were in personal income tax collections, in part because of taxpayer behavior in response to the federal tax changes passed at the end of the year. Additional gains in some states came from payments that hedge fund managers made on earnings required to be returned from offshore accounts by the end of last year, according to the Rockefeller Institute.
Just six states saw drops in inflation-adjusted tax dollars in the fourth quarter ofthe fewest since the second quarter of Despite the unusually strong performance at the end of last year, state tax revenue—like the U.Many scholars have argued that democracy — particularly in the United States — is under threat.
Examples include Steven Levitsky and Daniel Ziblatt’s analysis of democratic backsliding and. Fontanelli, Filippo and Bianco, Giuseppe, Article: Converging Towards NAFTA: An Analysis of FTA Investment Chapters in the European Union and the United States (April 1, ).
Stanford Journal of International Law Vol. 50, No. 2. These states were dubbed the "blue wall", as they represented Mrs Clinton's bulwark against the mass of red states in the Midwest.
Mr Trump succeeded in taking Wisconsin (which had voted Democrat since ), Pennsylvania (Democrat since ), Michigan (Democrat since ) and Ohio (Democrat since ). States are obliged by Article 2 to take all appropriate measures to implement the objectives of the Convention as set forth in Article 1: (1) To secure the prompt return of children wrongfully removed to or retained in any Contracting State; and (2) to ensure that rights of.
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A new cutting-edge analytical instrument will grant researchers at the U.S. Army Research, Development and Engineering Command Edgewood Chemical Biological Center (RDECOM ECBC) the ability to.