The New Reality of Municipal Finance examines the growth and decline of fiscal dependency in the large cities of the United States. Intergovernmental cities became dependent upon a variety of revenues, primarily from federal and state governments, to support an array of local public services that were basic to the needs of their citizens. This study based upon two years of work explores the socioeconomic characteristics of these cities and details the changes they have undergone given the drastic shifts in national domestic spending. The authors reveal the health level of each city; how each will be able to deal with the New Federalism; and how future public services and capital facility infrastructure will be provided in the intergovernmental city.
Presenting emphases on and approaches to issues such as government spending, reporting, pricing and fiscal federalism, the Handbook of Public Finance demonstrates the utility of integrating public finance theory with actual public policy practices. It discusses applications in major subfields of public finance, including public education, environmental regulation, energy policy, social welfare programs, and local and state politics. Other topics of discussion include the theory and practice of tax incidence analysis; the marginal costs of taxation and regulation, the economics of expenditure incidence, discounting and the social discount rate; passive use benefits, and public sector pricing.
This book tells a fascinating story on municipal finances for local government practitioners with rich examples, global practices, and good and bad experiences the authors gained in decades of field work.