By 2019, research documented the cumulative impact of ALEC’s systematic corporate tax-cutting campaign: the effective state and local tax rate on corporate profits had declined from 5.9% in 1989 to 3.9% in 2019—a 33% reduction representing the successful culmination of three decades of …
American Legislative Exchange Council (ALEC)State LegislaturesCorporate LobbyGood Jobs FirstEconomic Policy Institute+1 morealeccorporate-corruptiontax-policyrace-to-bottomfiscal-crisis+5 more
On June 6, 2017, the Republican-controlled Kansas legislature voted to override Governor Sam Brownback’s veto and repeal the massive tax cuts enacted in May 2012, marking one of the most decisive rejections of supply-side economics in modern American history. The veto override passed with …
Sam BrownbackKansas LegislatureArthur LafferAmerican Legislative Exchange Council (ALEC)Kansas Republican Party+1 morekansastax-policysupply-side-economicsalecfiscal-crisis+7 more
On May 22, 2012, Kansas Governor Sam Brownback signed Senate Bill Substitute HB 2117, implementing what became known as the ‘Kansas experiment’—the most aggressive implementation of ALEC’s corporate tax-cutting agenda ever attempted by a U.S. state. The legislation eliminated state …
Sam BrownbackArthur LafferAmerican Legislative Exchange Council (ALEC)Kansas LegislatureKoch Industriesaleccorporate-corruptiontax-policykansassupply-side-economics+5 more
On September 3, 1982, President Ronald Reagan signed the Tax Equity and Fiscal Responsibility Act (TEFRA) into law, reversing substantial portions of the Economic Recovery Tax Act he had signed just 13 months earlier. TEFRA raised nearly $100 billion in federal revenues through closure of tax …
Ronald ReaganRobert DoleJack KempBruce BartlettSenate Finance Committeetax-policyreagan-administrationsupply-side-economicsdeficit-spendingfiscal-crisis+3 more