From Florida to Michigan, states are readying record budgets as tax collections are set to exceed prerecession peaks. The achievement is going unrewarded in the $3.7 trillion U.S. municipal-bond market.
Kelly Blair, a banker from the Baltimore suburbs, spends hundreds of dollars online every year buying gifts and household supplies like pet food and shampoo. She doesn’t check to see whether she owes sales tax -- though her home state of Maryland says that she should.
Nevada Governor Brian Sandoval, whose borrowing ability has withered as the state suffered the nation’s biggest drop in property values, wants to tap a revenue stream that emerged from the recession unscathed: liquor taxes.