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States tapping historic surpluses for tax cuts and rebates

FILE - Republican Gov. Brad Little, right, announces a special session of the Legislature for a proposed $500 million tax rebate and $410 million in education spending to deal with inflation as Republican House Speaker Scott Bedke, center, and Republican Senate President Pro-Tem Chuck Winder, left, look on, Tuesday, Aug. 23, 2022, in Boise, Idaho. State governments flush with money are returning billions of dollars to their residents. Already this year, at least 31 states have enacted some form of tax cut or rebate. (AP Photo/Keith Ridler, File) Colorado State Treasurer Dave Young holds up a replica of a check sent to resident joint tax filers as part of the "Colorado Cashback" refund Tuesday, Aug. 30, 2022, in Denver. More than half of the states with record revenue surpluses have been giving money back to taxpayers at a historic pace this year. (AP Photo/David Zalubowski)