August 2008 Budget & Tax News (PDF)

The August 2008 issue offers a special report on state lotteries, which are being viewed as a new source of revenue by several key states. On page 1:

• Virginia Gov. Tim Kaine has launched a campaign to raise taxes and fees to replace those recently ruled unconstitutional by the state supreme court.

• Congress is finishing work begun in 2006 to remedy unintended consequences of the Alternative Minimum Tax.

• Presidential hopefuls John McCain and Barack Obama support a spending transparency measure working its way through Congress.

• North Carolina Gov. Mike Easley's proposed budget includes new taxes on beer, wine, and spirits.

Also in this issue: entitlement spending, mortgage guarantees, income tax surcharges, smoking bans, cigarette taxes, gas tax holidays, unions, business taxes, school funding, and more.