New England's Dilemma

O'Brien, Elizabeth
December 2004
Bond Buyer;12/20/2004, Vol. 350 Issue 32033, p1
Trade Publication
The article reports on the decision to cut property taxes in New England. Politicians in northern New England want to cut property taxes while maintaining or raising tax-supported education spending in the upcoming legislative sessions. At the same time, bonding plans in the fiscally conservative states remain about the same as last year. While the states' tax reform proposals are all linked to education spending, the circumstances behind them vary. It is too early to predict what kind of credit impact each proposal may have, analysts said, but added they will be watching closely to see how the tax-reform initiatives, if passed by lawmakers, affect each state's balance of revenues and expenses. Credit concerns could arise if states dip into their rainy-day funds to make up for any lost revenue.


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