July 30, 2009
Politics Daily Highlights Tax Foundation’s Updated Facts & Figures Handbook
"States Raising Taxes to Cover Recession Shortfalls"
By Emily Miller
In recent months, New Jersey, New York, Wisconsin and Delaware have increased individual income taxes for high earners. Hawaii has recently increased its top marginal tax rate to 11 percent, tying Oregon for the highest state taxes in the country.
These latest figures are from a mid-year update to the Tax Foundation's annual Facts & Figures handbook, which compares all 50 states on taxing and spending. It's the first time in the publication's 72-year history that the foundation compiled a mid-year update, which was done because of the number and significance of state tax changes in the first half of 2009. "Many states have started the new fiscal year with tax codes that are vastly different compared to just a few months ago," said foundation President Scott Hodge.
