Due to their regressive nature, raising state and local sales taxes should not be the first choice for increasing tax revenues.
States and localities should include services in the taxable base to reduce regressivity and improve neutrality.
Exemptions from state retail sales taxes should be narrowly designed to reduce their regressive nature and avoid pyramiding.
Policies should be in place to avoid unnecessary foreclosures.
Policymakers should create or extend programs that would address reverse mortgage foreclosures.
Proceeds from reverse mortgages should not affect homeowners’ eligibility for public benefit programs.
Property taxes should be equitable.
Federal legislation should provide a minimum level of consumer protections.
Regulators should provide effective oversight of the financial industry and enhance consumer protection.
All depository institutions should be required to provide an adequate level of banking services to individuals, including customers with low incomes.