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Governors in New York, Indiana, Vermont Pledge Tax Cuts

Jan. 7, 2022, 6:45 PM

This week in state tax news: Governors in New York, Vermont, and Indiana highlighted tax relief for 2022 during budget speeches. Meanwhile, the Treasury Department issued a final rule on municipal spending under the American Rescue Plan, and the Multistate Tax Commission outlined its plans for monitoring and taxing the trillions of dollars flowing through investment partnerships.

2022 could be a landmark year for state tax cuts, if the first few state of the state addresses are any indicator.

New York Gov. Kathy Hochul (D) proposed a faster phase-in of $1.2 billion in middle-class tax cuts during her first ...