A debt limit meeting next week, perhaps an upcoming discharge petition? President Biden invited House Speaker Kevin McCarthy (R-CA), Senate Majority Leader Chuck Schumer (D-NY), Senate Minority Leader Mitch McConnell (R-KY) and House Minority Leader Hakeem Jeffries (D-NY) to the White Conference. Chamber will meet on May 9 to discuss the debt limit. House Democrats are working on a “reversal petition” that would allow them to bring a bill to prevent defaults before the full House without committee approval. They would need at least five Republicans and all Democrats to support their effort, and signatures of support cannot be collected until May 16.

West Virginia’s April tax revenue tops its surplus. The state budget surplus has reached nearly $1.6 billion. Year-to-date tax collection of $5.4 billion was 41.3 percent higher than the Department of Revenue’s estimate of $3.8 billion. april tax revenue it totaled $825.9 million, which was 63 percent more than the estimated $506.9 million. Revenue officials say it’s the largest monthly collection in state history.

Republican Iowa state legislators reach a property tax cut deal. They have agreed on a bill that limit property tax growth bills and tax cuts for military veterans and seniors by consolidating various local taxes, limiting local government revenue growth, and providing new property tax breaks for veterans and seniors. Republican legislative leaders estimate the bill would reduce property tax revenue by $100 million statewide.

Seeking tax revenue, Minnesota lawmakers propose “mandatory worldwide combined reporting.” Democratic state lawmakers have a bill that would tax Minnesota-based companies based on your global operations. The companies would have to combine their global earnings when filing taxes in Minnesota, with the goal of allowing the state to better assess the full scope of income from Minnesota operations. The tax bill is expected to pass in the state Senate and go to a conference committee.

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