State Tax Cuts a Trend Nationwide

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The United States has been experiencing a “tax cut fever” among states. States with large surpluses are cutting taxes rapidly. Although some states have given one-time refund checks, many red states have opted for permanent tax rate decreases.

This has been the mentality among states for the last three years. But how much are these taxes decreasing, and will this trend last?

48 States Lower Taxes

From 2021 to January 2024, 48 states and the District of Columbia have either cut taxes or given rebates. The two that haven’t reduced taxes are Alaska and Nevada. But, in fairness, neither Alaska nor Nevada has a personal income tax.