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Fiscal Stimulus at the State Level?

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Publication Date: February 2008

Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Nicholas Johnson

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Banking and finance (Taxation and tax policy)
Government (State or regional government)

Keywords: Economic projections; State budgets; Tax code; Fiscal future

Type: Report

Abstract:

Policymakers in many states are proposing tax cuts or rebates that they hope will “stimulate” their economies.  Such proposals have been issued by governors and/or leading legislators in Alabama, Arizona, Connecticut, Florida, Illinois, Pennsylvania, and Wisconsin, among others.  The proposals vary, but many are modeled at least partially on the business tax cuts and individual rebates contained in the federal economic stimulus package enacted earlier this month.  And many advocates of such proposals explicitly cite the federal stimulus bill--and its widespread, bipartisan support--as a reason to support such a plan in their state.