States Should Modernize Taxes to Manage Structural Deficits, CBPP Argues, Finding ‘No Bubble' in State, Local Bond Markets

The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.

The CBPP argues that operating deficits are short-term budget problems that require a different solution from long-term problems such as bond indebtedness, pension obligations, and retiree health care. The solution to ongoing structural budget deficits is fundamental tax reform, which must take into account the increased role of electronic commerce, services, and telecommunications in the modern economy.

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