The Tax Foundation is reporting that the House of Representatives may take up H.R. 1864, the Mobile Workforce State Income Tax Simplification Act of 2011. The CBO describes the legislation as prohibiting states from taxing the income of employees who work in the state for fewer than 31 days. The prohibition would not apply to the income of professional athletes, entertainers or public figures.
Senate Banking Committee: Internal staff memo on yesterday’s hearing on derivatives regulation
Reuters: U.S. cities wrestle with universities for cash
NCSL: State unemployment rates drop in April 2012
NABL: “Simply and plainly tell the whole credit story related to [newly issued] bonds”
Sacramento Bee: Every year, a California budget plan passes that collapses by the following May
The Economist: California’s overcrowded prisons
Reuters: 188 school districts in California are in “financial jeopardy”