Blue and red states slash taxes despite warnings of hard times ahead ...Middle East

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Photo: Getty ImagesWith a $750 million budget surplus on hand, there was little doubt whether North Dakota lawmakers would cut taxes earlier this year — the question was how much. “The surplus was strong, and we believe it’s going to be sustained into the future,” said state Rep. Craig Headland. “So, it just made sense to cut taxes.” Headland was among the Republicans who negotiated terms of the legislature’s $515 million tax cut this year — 70% of which came from lowering personal income tax rates. The cuts leave North Dakota with the lowest tax rate among the states that collect income taxes. In a special session this week, the legislature is considering more tax cuts that would exempt abo

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Last updated : 30 October 2023 clock 07:24 PM

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