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8 Cards in this Set
- Front
- Back
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excise taxes
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Tax levied on certain actions, such as the manufacture and sale of certain commodoties such as tobacco or liquor, within a country.
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death taxes
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Estate and inheritance taxes levied by a state.
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debt financing
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The sale of bonds to finance long-term improvments.
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categorical grants
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Federal grants-in-aid to state or local governments for use on very specific programs or projects.
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matching funds
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The funds a state must pay when issued many categorical grants. Some programs require the state raise only 10% as their share, others require as much as 50%.
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equalization
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A method of adjusting the amount of money a state must supply to teceive federal funds, which takes into account the wealth of the state and its ability to tax its citizens.
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project grant
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An assistance grant that state and local agencies can apply for directly, so the funds can be allocated to where they are needed.
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block grant
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A type of funding program in which the federal government gives money to state and local governments to use in broadly defined areas of public policy, such as criminal justice or mental health.
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