Massachusetts taxpayers now have a better idea of where $171 million of their tax dollars are going. Thanks to legislation enacted in 2010, the state’s Department of Revenue just issued its first-ever report identifying recipients of so-called economic development tax credits. The biggest winner in 2011 was Columbia Pictures, which received $11.6 million Bay State tax dollars for a movie that, ironically, depicts a teacher trying to raise money for his under-funded public school.
Then there’s the fraudulent use of film tax credits, which is a whole other thing!
Revenue to fund bridge repairs is falling short in Oklahoma, so Governor Mary Fallin signed a bill this week that takes money away from education and other general fund services to cover the costs. The move follows similar actions taken last year in Nebraska, Utah and Wisconsin (and almost in Virginia). Oklahoma has gone 25 years without raising its gas tax—the state’s traditional source of transportation revenue. That’s longer than any state except Alaska.