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Financing State and Local Governments
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Publisher:
2010
Summary
State and local governments are at a financial crossroads. As the federal government attempts to reduce its deficits, state governments will have to provide a greater share of support for mandatory social programs. Local governments face demands for new initiatives in education and for civic improvements. Both have obligations to employee pension plans that are large and still relatively untested. Running counter to these claims on state and local budgets is a voter effort to limit the amounts that governments may tax or spend.
This fourth edition of James A. Maxwell's classic and widely acclaimed book will help both layman and lawmaker understand the choices open to their governments. It provides a lucid, nontechnical analysis of state and local finance. It gives concise descriptions of the taxes, grants, debt issues, and user charges that finance state and local government and discusses their relative virtues and drawbacks. It traces the history of state and local finance and presents statistical data on expenditures, federal aid, revenue from taxes and user charges, debt, and pension funds. The new edition, in recognition of changes since the mid-1970s, also includes a separate chapter on financing education and broadened analyses of federal grant programs, employee retirement systems, and nonguaranteed municipal debt.
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Bibliographic data
Copyright year
2010
ISBN-Print
978-0-8157-5517-3
ISBN-Online
978-0-8157-1627-3
Publisher
Rowman & Littlefield, Lanham
Language
English
Pages
265
Product type
Book Titles
Table of contents
ChapterPages
Contents No access
Interstate Comparisons No access
Grants-in-Aid No access
State Taxes No access
Local Taxes No access
Nontax Revenue No access
Borrowing No access
Budgeting No access
Education Finance No access
Whither State and Local Finance? No access
The Historical Balance of Federal, State, and Local Power No access
Functional Distribution of Expenditures No access
Apologia for Federalism No access
Patterns of Aggregate Expenditure No access
Measures of Relative Fiscal Capacity and Tax Effort No access
Patterns of Tax Preference and Utilization No access
Conclusion No access
Trends in Federal Transfers No access
The Need for Federal Grants No access
Grant Forms No access
Grant Features No access
Problems Raised by Grants No access
Functions Aided by Grants No access
Continuing Issues in Grant Design No access
Structure of Local Governments No access
Transfers to Local Governments No access
Conclusion No access
Taxes on Individual Incomes No access
Taxes on Sales No access
Sales Tax or Income Tax? No access
Corporation Income Tax No access
Death and Gift Taxes No access
Significance to State and Local Governments No access
Incidence and Economic Effects No access
The Base of Property Taxation No access
Assessment No access
The Role of the States in Reform No access
Erosion of the Tax Base No access
State Assessment of Property No access
Conclusion No access
Local Nonproperty Taxes No access
Nontax Revenue No access
Conclusion No access
Types of Debt No access
Tax Exemption No access
Debt Limitations No access
The Nonguaranteed Bond No access
Bonds for Industrial Development and Other Nontraditional Purposes No access
Reform of Borrowing Limitations No access
The Budgetary Process No access
Earmarked Revenues No access
State and Local Retirement Systems No access
Capital Budgets No access
Trends in Enrollments and Expenditures No access
The Federal Role in Financing Education No access
Equity in Education No access
Expanding Parental Choice in Education No access
Revenue and Expenditure Limitations No access
Deducibility of State and Local Taxes from Federal Income Taxes No access
Conclusion No access
Appendix: Statistical Tables No access Pages 235 - 254
