“Any state that depends on income taxes is going to get sick whenever one of these guys gets a cold.”— Kevin B. Sullivan, commissioner of the Connecticut Department of Revenue Services A single taxpayer’s exodus from high-tax New Jersey sent the Garden State’s budget office into a tailspin. Hedge fund manager David Tepper, formerly one New Jersey’s wealthiest taxpayers, now calls no-income-tax Florida home. After Tepper’s move, Frank Haines, budget and finance officer with the New Jersey Office of Legislative Services, testified before the Senate Budget and Appropriations Committee. Haines warned, “We may be facing an unusual degree of income tax forecast…
Author: Kati Siconolfi
Kati Siconolfi
Kati Siconolfi serves as Legislative Manager for the ALEC Center for State Fiscal Reform, where she works with state lawmakers, policy experts and business leaders to develop free-market solutions to state fiscal challenges. Some of her past work includes writing and editing for more than a dozen ALEC publications on fiscal reform, including Rich States, Poor States: ALEC- Laffer State Economic Competitiveness Index. As a former New Yorker, Kati knows firsthand that limited government, federalism and free-market policies provide the best economic opportunities.