In both of your first two papers, I asked you to focus on a revenue stream and a

In both of your first two papers, I asked you to focus on a revenue stream and a specific expenditure – each of which has issues that policy makers should keep in mind when formulating future policy proposals and recommendations. Your final paper is based on the premise that when we look at State/local public finance, the key distinction between the State’s and their local governments is that there must be balance between the two. That is TAX(REV) = Expenditures. Thinking about the prior issues that you analyzed, how (or what) would you change. For example, many of you discussed the personal income tax as an issue for the States. If faced with a choice of changing that tax to finance flaws in your spending topic, what would you change? The why should be supported with research as to why the approach is valid. Alternatively, your final paper can discuss the overall fiscal choices and priorities a State such as New York has determined to be valid. For guidance here, we referred several times to the comptroller’s report over the semester. Here is the link: https://www.osc.state.ny.us/reports/finance/2021-fcr

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