Last year, 50 laboratories of democracy were in full swing as free market policies swept across the country in the name of tax cuts and education reform.
While these types of victories typically don't garner as much media attention as the battles on Capitol Hill, they can be extremely significant for states that adopt these policies, both in terms of economic development and population growth. . It's a sure sign that people are paying attention to their pocketbooks and continuing to vote with their feet.
Twelve states will cut income taxes in 2023, continuing the historic tax-cut drive that began in 2021. The year started with Kentucky cutting its tax rate in January and putting the state on the path to eliminating the personal income tax if the revenue is triggered. met. (Related: Mike McKenna: Shocker — RINO Republicans support carbon tax)
Remarkably, even deep blue Connecticut enacted personal income tax cuts, proving that the tax cut movement can and should be a bipartisan cause. Other states cutting taxes include West Virginia, Montana, Utah, Arkansas, North Dakota, Indiana, Nebraska, Ohio, Wisconsin, and North Carolina.
The tax cuts seen in 22 states since the tax-cut movement began in 2021 are the product of prudent fiscal practices and surpluses generated by states' unprecedented levels of tax revenue. But that doesn't prevent budget busters from screaming when lawmakers start debating how to return over-collected taxes to hard-working taxpayers.
A common refrain from doomsayers is that tax cuts “hurt children” because the funds used for them are taken from education spending.However, this means that several states such as North Carolina teachers' salaries increased and reduce taxes.
North Carolina ranks 2nd overall economic outlook in Rich states, poor states: ALEC-Rafah State Economic Competitiveness Indexis just one of many policy examples of tax cuts that lead to improved economic conditions and greater prosperity for all. This usually means generating much more revenue than expected. North Carolina was ranked 26th in economic outlook (as of 2011), but our continued efforts to reform our tax code and improve our economic competitiveness have dramatically improved our ranking. .
While the historic 2023 tax cuts are cause for celebration, an even more surprising eight states have enacted educational freedom laws. Allowing parents to choose educational options best meet the needs of individual children.
The movement for educational freedom has gained momentum since the COVID-19 pandemic. A complete switch to universal school choice began in West Virginia in 2021 and continued in Arizona in 2022, resulting in a windfall victory for families and children last year.
The plan began in Iowa in 2023 under the leadership of ALEC alumni Governor Kim Reynolds, ALEC Board Member Chair Pro Tem John Wills, and Senate President Amy Sinclair. The movement then continued in Arkansas, Florida, Indiana, Ohio, Oklahoma, North Carolina, and Utah.
It's also worth noting that South Carolina, Nebraska, and Montana have each taken major steps toward full universal educational freedom.
Last year was a great year of victories for free market policies across the United States. A victory for the free market is ultimately a victory for hard-working taxpayers, and the momentum at the state level stands in stark contrast to the seemingly permanent gridlock besieging the federal government in Washington, DC.
With this momentum in the state, we at ALEC are very excited for 2024. David McNew/Getty Images
We believe that with policy solutions like the ones in our newly published book. Key policy solutions for 2024the Institute for 50 Democracies will continue to lead free market policy reforms that lead to a more prosperous America.
Jonathan Williams is chief economist and vice president for policy at the American Legislative Exchange Council.He is a co-author of Rich states, poor states: ALEC-Rafah State Economic Competitiveness Index. Follow him on X @TaxEconomist.
Nick Stark is director of the Tax and Fiscal Policy Task Force at the National Legislative Exchange Council. Follow him on X @NJStark7.
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.
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