Effects of a federal value - added tax on state and local government budgets Jim Nunns and Eric Toder
By: Nunns, Jim
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Contributor(s): Toder, Eric Jay.
Material type: 
ArticlePublisher: 2017Subject(s): IMPUESTO SOBRE EL VALOR AÑADIDO | HACIENDAS LOCALES | HACIENDAS REGIONALES | PRESUPUESTOS | ESTADOS UNIDOS
In:
National tax journal v. 70, n. 3, September 2017, p. 515-548Summary: A long standing concern of state and local governments is that a federal value-addedtax (VAT) could severely limit their reliance on sales taxes. But a federal VAT could have even larger effects on revenues from other sources and on spending through changes in incomes, relative prices, and asset values.To provide the plausible range of budgetary effects, we examine both a narrow- and comprehensive-based VAT, with consumer prices fully adjusting and not changing, over both short- and long-runtime horizons. We find that the plausible range of effects includes an improvement in the fiscal position of states and localities.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| IEF | OP 233/2017/3-1 (Browse shelf) | Available | OP 233/2017/3-1 |
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A long standing concern of state and local governments is that a federal value-addedtax (VAT) could severely limit their reliance on sales taxes. But a federal VAT could have even larger effects on revenues from other sources and on spending through changes in incomes, relative prices, and asset values.To provide the plausible range of budgetary effects, we examine both a narrow- and comprehensive-based VAT, with consumer prices fully adjusting and not changing, over both short- and long-runtime horizons. We find that the plausible range of effects includes an improvement in the fiscal position of states and localities.
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