A new report finds several states that helped elect President Obama
are doing something he won't — implementing pro-growth tax policies to
get their economies moving. Is the White House paying attention?
You wouldn't expect a solidly blue state like Maryland — which hasn't voted for a Republican presidential candidate since Reagan — to be cutting taxes for the rich.
But in their last legislative session, Maryland lawmakers passed a plan to raise the estate tax exemption almost fivefold over the next five years, according to the latest annual "Rich States, Poor States" report from the American Legislative Exchange Council.
New Jersey, too, is considering reforms to its estate tax, which at up to 16% with a mere $675,000 exemption is particularly harsh.
Lawmakers in liberal Rhode Island passed a budget that will both increase the estate tax exemption and cut the corporate income tax to 7% from the current 9%.
You wouldn't expect a solidly blue state like Maryland — which hasn't voted for a Republican presidential candidate since Reagan — to be cutting taxes for the rich.
But in their last legislative session, Maryland lawmakers passed a plan to raise the estate tax exemption almost fivefold over the next five years, according to the latest annual "Rich States, Poor States" report from the American Legislative Exchange Council.
New Jersey, too, is considering reforms to its estate tax, which at up to 16% with a mere $675,000 exemption is particularly harsh.
Lawmakers in liberal Rhode Island passed a budget that will both increase the estate tax exemption and cut the corporate income tax to 7% from the current 9%.
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