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Publication Date: October 2008
Publisher: Nelson A. Rockefeller Institute of Government
Author(s): Lucy Dadayan; Donald J. Boyd
Research Area: Banking and finance; Government
Keywords: State Tax Revenue; State Budgets
Type: Report
Coverage: United States
Abstract:
"The damage is just beginning" in state budgets, the Rockefeller Institute's latest State Revenue Report concludes. While overall tax revenues were "superficially strong" in the second quarter of 2008, sales-tax collections are down and declines in income-tax revenue are highly likely in the months ahead. More widespread budget cuts by states "are virtually certain."