States with lower tax rates, lower debt and fewer government restrictions generally have stronger economic outlooks, according to the latest report that ranks states from best to worst based on how friendly their policies are to economic growth.
The American Legislative Exchange Council released its “Rich States Poor States” report Tuesday. The report ranks states based on “economic outlook” using 15 factors.
Read More
New Jersey, California, New York, Texas and Illinois face a hundred billion plus deficit when it comes to paying for the benefits other than pensions promised to state retirees.
The State of New Jersey’s unfunded liability for post-retirement benefits other than pensions in state health care plans reached $174.9 billion in 2022. That was the highest in the country, according to a report by the American Legislative Exchange Council. The report stated the nationwide costs of state-sponsored post-retirement benefits reached $1.14 trillion in 2022.
Read More
The American Legislative Exchange Council held their national annual conference in Scottsdale last week, which included a pre-session for legislators with the Honest Elections Project (HEP). HEP is focusing on three issues relating to elections currently, and is proposing draft model legislation that legislators can introduce on a few issues. One is Ranked Choice Voting (RCV), which is gearing up to be a huge fight on the 2024 ballot in Arizona.
Read More
Arizona State Rep. Quang Nguyen, R-Prescott Valley, told an audience in Scottsdale on Wednesday about what actions Republican lawmakers may take in the next session targeting public universities on free speech issues.
“We actually drafted quite a few things, including changes to ABOR – Arizona Board of Regents – to sort of make things a little tighter,” he said on a panel at the conservative American Legislative Exchange Council’s annual summit.
Read More
Residents of blue states with aggressive climate policies are paying significantly more for electricity and fuel than red states, according to a new report by the American Legislative Exchange Council (ALEC).
California, Massachusetts, Rhode Island, Connecticut, Vermont, New York and New Jersey are seven of the top eight continental states in terms of highest average retail electricity prices in 2023, according to ALEC’s report. Each of these states have some sort of green energy mandate, which the ALEC report refers to as a Renewable Portfolio Standard (RPS), or participates in a greenhouse gas cap-and-trade program, or both.
Read More
A new report ranks all 50 states from best to worst for economic conditions, showing which states have improved, and worsened, in creating an economic climate where businesses want to invest.
The American Legislative Exchange Council released the state analysis, which ranks Utah as the number one state, North Carolina as second, and Arizona as third. Idaho and Oklahoma fill out the top five spots, ranking fourth and fifth, respectively.
Read More
Unfunded state pension liabilities have climbed to $8.28 trillion, or nearly $25,000 for every person in the United States, according to a new report from the American Legislative Exchange Council.
The American Legislative Exchange Council released the latest edition of its report on pensions in all 50 states Thursday. The report, “Unaccountable and Unaffordable 2021,” shows just a handful of states with outsize pension liabilities account for a large share of overall pension debt in the U.S.
Read More
Arizona Governor Doug Ducey is expected to sign a budget bill the Arizona Legislature sent to him on Friday that includes a historic tax reform package. HB 2900 implements the lowest flat tax in the country, 2.5%. The average Arizona family will see a 13% income tax reduction, about $350 per year. According to the nonpartisan Tax Foundation, Arizona previously had one of the highest marginal income tax rates in the country.
The budget bill also eliminates taxes on veterans’ retirement pay and prevents a 77% increase on small business taxes. It reduces property taxes by 10% on small businesses and job creators by 10%, capping the maximum tax rate on businesses at 4.5% and reducing commercial property taxes. According to a report by Ducey, 43% of Arizonans in the private sector work for small businesses. HB 2900 increases the homeowner’s rebate so the state covers half of homeowners’ primary property taxes.
Read More