New Special Report: Capital Gains Tax Hikes Could Adversely Impact Most State Budgets

2012 APR 30 -- Most state budgets could be negatively impacted if lawmakers increase tax rates on capital gains, according to a new special report released by the American Council for Capital Formation Center for Policy Research (ACCF CPR). The new report State and Federal Individual Capital Gains Tax Rates: How High Could They Go' is introduced as congressional lawmakers debate the "Buffett Rule" and highlights the effect of increased federal tax rates on long-term individual capital gains tax rates when both the federal, state and, in some cases, local tax rates are combined. The report is based on survey data collected by Ernst & Young and concludes that higher federal...

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