States continue to use budget surpluses to cut taxes for residents. A pandemic windfall has bolstered state treasuries and politicians see it as a way to finance tax cuts and other programs.
The proposal to cut the corporate income tax rate from 7.5% to 3.5% is aimed at making the state more attractive to businesses, particularly C-corporations, which are taxed directly on profits.
President-elect Donald Trump's proposed tax cuts could boost S&P 500 earnings by more than 20%, Goldman Sachs said. Strategists at the investment bank argued that S&P 500 earnings per share were ...