State Tax Cuts Reach New High.

• Position: Brief Article

States cut more taxes for fiscal 2000 than they did in any year for the entire decade leading up to it. Legislative changes slashed $7.3 billion in taxes for fiscal 2000, compared with $7.1 billion in cuts in fiscal 1999. The cuts continued a trend that began with the economic upturn of the early 1990s. The majority of the tax cuts ($27.3 billion in the last six year) have been in income taxes. Arizona, Colorado, Delaware, Hawaii, and Minnesota cut their marginal...