“A growing number of blue cities and states across the country, from Washington state to Rhode Island, are looking at ways to wring more revenue from their richest taxpayers,” the Wall Street Journal reports.
“Lawmakers are boosting tax rates on robust annual incomes, hiking capital-gains taxes, and putting new levies on luxury vacation homes.”
“Some state legislators have proposed higher taxes in response to projected shortfalls in federal funding related to President Trump’s new tax law, which extends a broad federal tax cut to the wealthy. The law also makes deep cuts to funding for such programs as Medicaid, pressuring states to make up some or all of the shortfall.”
