Tag Archives: tax cuts

North Dakota Senate Kills $352 Million Income Tax Package

North Dakota Senate Kills $352 Million Income Tax Package

Yesterday I wrote of the food fight going on between the North Dakota House and the Senate over HB1250, a package of income tax cuts. Well, yesterday evening the House (after much contentions debate) passed a $352 million package ($251 million in cuts for personal incomes, $101 million for corporate) with a strong, bi-partisan 76-vote

Senate To Vote On $350 Million In Income Tax Cuts, $250 Million More Likely To Pass

“We are bringing 1250 up to the floor for a vote,” a state Senator told me this morning. That’s the income tax cuts introduced by Rep. Craig Headland which, when passed in the House, totaled over $500 million in reductions for individuals, corporations and financial institutions. When the Senate got a hold of the bill,

Guest Post: Legislature Leaves North Dakotans Behind On Tax Relief Again

With 10 days left until the legislature must meet its 80 day constitutional limit, efforts to figure out how to balance the budget have hit what can only be described as a ridiculous point. Prior to the halfway point of the current legislative session, HB 1250 passed the House almost unanimously (the vote was 92-1).

Shocker: Senate Strips $375 Million Out Income Tax Cuts Passed By The House

About the only bright spot for tax relief this legislative session was a half-billion dollar package of corporate and personal income taxes passed by the House. Unfortunately, and as expected, the state Senate has watered those tax cuts down to the paltry $125 million in cuts proposed in Governor Jack Dalrymple’s executive budget. And Senate

Why In The World Is The State Of North Dakota Raising Taxes?

The State of North Dakota’s financial situation is the envy of the nation. According to the most recent revenue report from the Office of Management and Budget, total state revenues biennium to date are running 64.7% above last biennium. To put that in numbers, the state has collected $1.6 billion more in taxes so far

Senate Appropriations Committee Poised To Chop $376 Million Out Of House Income Tax Relief

Earlier this session the North Dakota House passed HB1250, introduced by Rep. Craig Headland, which represented over a half-billion in tax relief. Here’s what that bill does, as passed by the House on a nearly unanimous vote: The financial institutions tax rate goes from 6.5% to 6%. That’s a $2.4 million cut. The number of

Oil Tax Cuts Fall Flat In North Dakota House

With no debate, outside of bill carrier Rep. Craig Headland explaining his committee’s “do not pass” recommendation for the bill, the most controversial tax bill before this legislature fell flat on its face in the state House today. The vote was 6-87. Taxes, I think most would agree, ought to be fair. Meaning they ought

Math-Challenged Democrats Call Republican Oil Tax Bill "Radical And Reckless" Based On Fraudulent Numbers

Because they apparently didn’t get a number that was shocking enough the first time they were grandstanding on this issue, North Dakota Democrats re-calculated the numbers (which in and of itself inspires no small amount of skepticism, their original figure was $596 million) and concluded that a Republican plan to restructure the state’s oil taxes

Federal Tax Receipts To Set A Record

From the way President Obama and Democrats talk about taxes in America, you’d get the idea that our problem is that we aren’t taxed enough. Yet, according to the CBO, tax revenues are on pace to hit an all-time record this year. The previous record was set in 2007, capping a multi-year expansion in federal

Corporate Tax Cuts Are Ok As Long As They're Democrat Tax Cuts

Democrats in North Dakota gripe endlessly about income tax relief, claiming that they’re ok with tax relief for individuals but against tax relief for “out of state corporations.” Forget that any sort of broad tax relief for business is, by necessity, going to include out-of-state businesses which operate in the state. And why shouldn’t it?

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