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Publication Date: March 2008
Publisher: Center on Budget and Policy Priorities (Washington, D.C.)
Author(s):
Research Area: Banking and finance; Government
Keywords: Economic projections; Fiscal future; State budgets; Recession
Type: Report
Abstract:
States, facing their worst fiscal problems in five years, should consider the following four policy options when dealing with deficits: (1) protect their revenues from the effects of federal tax changes, (2) tap their "rainy day funds," (3) don't rule out revenue increases, and (4) avoid "stimulus" tax cuts.