In US Taxation
United States government revenue sharing was in place from 1972-1986. Under this policy, Congress gave an annual amount of federal tax revenue to the states and their cities, counties and townships. Revenue sharing was extremely popular with state officials, but it lost federal support during the Reagan Administration. In 1987, revenue sharing was replaced with block grants in smaller amounts to reduce federal revenues given to states.
Read more about this topic: Revenue Sharing
Famous quotes containing the word taxation:
“Every diminution of the public burdens arising from taxation gives to individual enterprise increased power and furnishes to all the members of our happy confederacy new motives for patriotic affection and support.”
—Andrew Jackson (17671845)