Proposal to Share Federal Tax Revenue
Provisions and Purpose of Heller Sharing Plan
Plans to distribute a fixed percentage of federal income S. tax revenue among the states, if and when the federal budget again produces an annual surplus, may be expected to attract growing attention as state and local revenue need's continue to mount. The current estimate is that annual state and local government expenditures will climb within a decade to $120 billion—about $40 billion more than now. To meet such huge outlays, states and localities will require additional sources of revenue, but new tax sources have virtually disappeared and existing taxes are already burdensome. Access to a share of the federal government's tax receipts, therefore, would be a godsend.
The revenue-sharing proposal that has been ...