Gov. Ralph Northam introduced a new state budget proposal Wednesday that includes Medicaid expansion and proposes a slightly different approach to spending that could shape the debate when lawmakers return for an April 11 special session.At a news conference in Richmond, Northam said his budget — built around “clean” Medicaid expansion — was virtually identical to the one former Gov. Terry McAuliffe proposed in December, with one important change. The governor said he’ll add an amendment dictating that any revenues the state takes in beyond its budget forecast will be stored away in reserves, not spent.“Our revenues have seen an uptick,” Northam said. “But it’s important that we not spend that additional money.”Northam described the amendment as a way to shore up the state’s bond rating and “protect Virginia against a sudden downturn.” But it’s also a response to the Republican vs. Republican warfare … [Read more...] about Northam introduces new state budget with Medicaid expansion and a twist: He wants extra revenue saved, not spent
Virginia’s general revenue collections were down 3.5 percent in March, compared with March 2017, but are up for the fiscal year, according to the governor’s office.Payroll withholding had one less deposit day in March of this year than in March 2017.As for the fiscal year, revenue collections were up 5.2 percent through March, ahead of the annual forecast of 3.4 percent growth.“As we enter the fourth quarter of the fiscal year, we are above target,” Gov. Ralph Northam said in a statement.“As always, the fourth quarter collections will be highly dependent on individual estimated and final payments due May 1st and June 15th,” Gov. Ralph Northam said in a statement.“We are on a positive trend, but as we deliberate on a budget, we have a responsibility to be fiscally prudent and make use of every available resource to shore up our budget and strengthen our economy.“That is why I am encouraged by the progress we are making toward a budget that … [Read more...] about Va. revenues dipped in March, but remain up for fiscal year
HOUSTON (KTRK) -- Mayor Sylvester Turner says current law enforcement staffing is not sustainable, so he is asking taxpayers for their help to fix it.During his State of the City address Tuesday, in front of an audience of 1600 of the region's political and business leaders, the Mayor announced a plan to raise money to add 500 net police officers to the Houston Police Department. He will ask to raise the city's revenue cap, the maximum amount of money the city can capture from property taxes.If on the November ballot and approved by voters, it could mean a higher tax bill for city residents. This move comes after HPD Chief Art Acevedo told Eyewitness News in January that his force was understaffed and needed help to better protect citizens. He suggested then that it might mean the city would need additional revenue but deferred to Mayor Turner as to how those dollars would materialize.The Mayor also said he was going to take a greater leadership role in underperforming schools. … [Read more...] about Mayor Turner wants voters to raise tax revenue cap
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Joshua Miller Globe Staff July 24, 2018 Massachusetts raked in a record $27.8 billion in tax revenue in the fiscal year that ended last month, a whopping 8.6 percent increase over the previous year, according to preliminary numbers the state Department of Revenue announced Tuesday.The windfall is both a sign of economic strength, and, experts say, a unique turn of events partially tied to the federal tax overhaul that President Trump pushed through last year.“You have to give some credit where credit is due: A lot of this revenue is affiliated with federal tax reform in some way or another,” said Eileen McAnneny, president of the business-backed Massachusetts Taxpayers Foundation. Advertisement Some of the unexpected windfall came from capital gains taxes — levies paid on investment profits — and pre-payment of taxes. People may have … [Read more...] about Mass. raked in 8.6 percent more tax revenue than last year. But why?
Share Tweet Plus One Pin It Email Print By: Live Law August 21, 2018 12:43 pm Change Font Size A fortnight after the Madras High Court held the constitution of appellate tribunal under the GST Act to be prima facie contrary to the decision of the Supreme Court according to which technical members on a tribunal shall never exceed the judicial member, the Revenue Bar Association has also challenged its constitution and that of the appellate tribunal under the Tamil Nadu Goods and Services Tax Act. The Madras High Court has clubbed the petition filed by the Revenue Bar Association with other similar petitions. In its petition, the Revenue Bar Association has prayed that Chapter XVIII of the Central Goods and Services Tax Act, 2017, more particularly, Sections 109 and 110 of the Central Goods and Services Tax (CGST) Act, 2017 relating to constitution of the appellate tribunal and qualification, appointment and condition of services of its members be declared void, … [Read more...] about Now Revenue Bar Assn Moves Madras HC Against Constitution Of Appellate Tribunal Under GST Act