A new study says 19 struggling U.S. states stand to lose as much as $5.3 billion in tax collections over the next few years as a result of President Obama’s recent tax deal with Republicans. According to the Center on Budget and Policy Priorities, the unintended losses would come from a provision allowing businesses to deduct the full value of new equipment costs.
Report: Tax Cuts Could Cost 19 States $5.3 Billion
HeadlineMar 02, 2011