Away from the shutdown in Washington, the battle over government spending is being fought in state capitals against a different backdrop: Rising tax revenue, and the debate over how to spend it. Many states are choosing to cut taxes -- a worthy goal that’s being embraced a little too carelessly.
Florida Governor Rick Scott shows how governors in at least nine states are approaching re- election campaigns next year by touting surpluses and pitching tax cuts, sometimes relying on one-time revenue to fund the breaks.
Kansas Governor Sam Brownback has a prairie-wide smile, a friendly manner and an abiding hatred of his state’s income tax. He pushed an unprecedented cut for individuals and small businesses through the legislature last year and is now plotting, as he says, to “take it to zero.”
Missouri’s Republican-controlled legislature failed to override Democratic Governor Jay Nixon’s veto of cuts in personal and corporate income taxes, slowing a political prairie fire that began in neighboring Kansas.
Frederic Bourke, co-founder of the luxury-handbag maker Dooney & Bourke, is set to enter prison this week for conspiring 15 years ago in what prosecutors called “one of the most audacious” bribery schemes ever attempted in the former Soviet Union.
Blackstone Group LP ’s Timothy Coleman helped Ford Motor Co. avoid bankruptcy and a taxpayer bailout as the automaker eliminated $9.9 billion of debt and negotiated with unions to modify collective-bargaining agreements. Now he’s trying to turn around Kansas.