Retail News

States push tax cuts to help citizens deal with rising prices

The New York Times 05/10/2022

Idaho, Indiana, Iowa, Kansas and New Mexico are cutting one tax or another to help consumers keep more dollars in their pockets as the cost of everyday goods go higher. Some question if cuts have actually thrown fuel on the inflationary fire. “All these tax cuts in states are adding to inflation,” said Jason Furman, an economist at Harvard University. “The problem is, from any governor’s perspective, a lot of the inflation it is adding is nationwide and a lot of the benefits of the tax cuts are to the states.”

Source: The New York Times


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