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“Tax Cut Fever” – 14 States Have Cut Tax Rates for 2024

While things look bleak in Washington on the policy front, pro-growth policies are winning the day in the states. Income tax rates fell at the beginning of the year in 14 states. It’s mostly a red-state phenomenon, but even two blue states, Colorado and Connecticut are cutting taxes. Jonathan Williams, the Chief Economist and Executive Vice President of Policy at ALEC, says there is more momentum for lower tax rates and simple flat taxes, than at any time in recent history.

Here’s a summary of the changes that have been adopted for this year. Notice that the states are lowering RATES, which is the best way to cut taxes:

The map below shows that most of the cuts are happening in the southern states.

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