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Red States Move To Slash Taxes

Red States Move To Slash Taxes

By Nanette Byrnes
CHAPEL HILL, North Carolina | Sun Jan 13, 2013 10:06am EST

(Reuters) - Hopes for overhauling the federal tax system are fading in Washington, but in some state capitals, tax reform experiments - some far-reaching - are fast taking shape.

Across the South and Midwest, Republicans have consolidated control of state legislatures and governorships, giving them the power to test long-debated tax ideas.

Louisiana Republican Governor Bobby Jindal, for instance, called on Thursday for ending the state's income tax and corporate taxes, with sales taxes compensating for lost revenue.

A similar plan is being pushed by Republicans in North Carolina. Kansas, which cut its income tax significantly last year, may trim further. Oklahoma, which tried to cut income taxes last year, is expected to try again.

Read more: http://www.reuters.com/article/2013/01/13/us-usa-tax-states-...