GOP Governors Planning to Abolish State Income Taxes

by
January 20, 2013

Brownback
Several Republican governors are proposing an end to their state income taxes in exchange for closing loopholes including mortgage deductions — plans to make their states more competitive in the U.S. economy but already being criticized by Democrats.

Gov. Dave Heineman, Nebraska, and Bobby Jindal, Louisiana, earlier this week proposed eliminating the tax on residents and corporations.

Meanwhile, Kansas Gov. Sam Brownback proposed lower taxes for all residents in exchange for eliminating the tax deduction for interest paid on home mortgages.

Brownback’s mortgage-interest proposal is to help close a budget shortfall and was rejected last year by the state’s General Assembly.

He has been working for at least a year toward ending state income taxes and announced his plan Tuesday as part of his balanced budget proposal for fiscal 2014 and 2015.

Alaska, Texas, Florida, Nevada, South Dakota, Washington and Wyoming have no individual income taxes. Nevada, South Dakota and Wyoming have no corporate income taxes, according to the nonprofit Tax Foundation.

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