Reports by Nicholas Johnson
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Business Expensing Proposal Would Add to State Fiscal Problems
Updated December 16, 2010
Notwithstanding the overall positive impacts that the tax deal between President Obama and Republican leaders would have for the economy in the near term, its provision to encourage business investment in machinery and equipment would cost states over $11 billion in state corporate and individual income tax revenues during the … -
State Earned Income Tax Credits: 2010 Legislative Update
Updated December 9, 2010
An Earned Income Tax Credit (EITC) modeled on the federal program of the same name is now offered in 23 states and the District of Columbia as a way to reduce taxes and supplement wages for low- and moderate-income working families. A large body of evidence has shown that the state and federal EITCs serve a number of important … -
How Much Would a State Earned Income Tax Credit Cost in Fiscal Year 2012?
Updated November 24, 2010
The federal Earned Income Tax Credit (EITC) is the nation’s most effective anti-poverty program for working families. It lifted 6.5 million people — including 3.3 million children — above the poverty line in 2009.[1] The 24 state-level EITCs modeled after the federal program complement it in combating … -
Business Expensing Proposal Would Add to State Fiscal Problems
November 11, 2010
View more recent report with more up-to-date data: Business Expensing Proposal Would Add to State Fiscal Problems Updated December 16, 2010 President Obama’s proposed temporary tax incentive to encourage business investment in machinery and equipment would cost states up to $20 billion instate corporate and individual income tax revenues during … -
“FairTax” Proposals to Replace State Income and Business Taxes With Expanded Sales Tax Would Create Serious Problems
September 7, 2010
Proposals in several states to eliminate income and business taxes and substitute higher, broader sales taxes would threaten a state’s ability to maintain necessary services over time and sharply increase the taxes that many low- and middle-income households pay. Such proposals, which supporters often call “FairTax” … -
Failing to Extend Fiscal Relief to States Will Create New Budget Gaps, Forcing Cuts and Job Loss in at Least 34 States
Revised August 13, 2010
If Congress does not extend the enhanced Medicaid matching funds in last year’s Recovery Act, most states will cut public services or raise taxes for the fiscal year that begins July 1 by even more than they are already planning – laying off tens of thousands more teachers and other public employees, cutting education funding more … -
New Fiscal Year Brings More Grief for State Budgets, Putting Economic Recovery at Risk
June 29, 2010
Dismal state revenue collections caused by the severe recession are setting the stage for a new round of state budget cuts as fiscal year 2011 begins in most states on July 1. The states’ cumulative budget shortfall will likely reach $140 billion in the coming year, the largest shortfall yet in a string of huge annual gaps that date back … -
Statement: Nicholas Johnson, Director, State Fiscal Project, on NGA and NASBO's “Fiscal Survey of the States”
June 3, 2010
Today’s “Fiscal Survey of States” from the National Governors Association (NGA) and the National Association of State Budget Officers (NASBO) underscores the urgent need for Congress to extend fiscal relief to states in the pending jobs legislation. Without further assistance, … -
Premature End of Federal Assistance to States Threatens Education Reforms and Jobs
Updated May 25, 2010
Recovery Act assistance to states will largely run out this year, which could not only eliminate hundreds of thousands of jobs and undermine basic education services but also impede education reform efforts. As Education Secretary Duncan recently told Congress, “We are gravely concerned that the kind of state and local budget … -
Some States Scaling Back Tax Credits for Low-Income Families
Revised May 3, 2010
Facing large budget shortfalls, a small number of states are scaling back tax credits for low-income working families, which not only harms some of the families hardest hit by the recession but also weakens the economy by lowering overall demand. States have other budget-balancing strategies that are better for both vulnerable … -
Budget Cuts or Tax Increases at the State Level
Updated April 28, 2010
The recent, unusually long and deep recession is making it difficult for states to maintain balanced budgets, as nearly all of them are required to do by law. Almost every state has reduced spending and 33 also have raised revenue to bring their budgets into balance. Additional cuts and revenue measures are being proposed for the next fiscal year. … -
State Tax Changes in Response to the Recession
March 8, 2010
The national recession has had such a devastating effect on state finances that states took in $87 billion less in tax revenue from October 2008 through September 2009 than they collected in the previous 12 months. This 11 percent decline, the steepest on record, resulted from the impact on tax collections of lost jobs, reduced wages, and … -
Governors’ New Budgets Indicate Loss of Many Jobs if Federal Aid Expires
Updated March 8, 2010
States face continued major budget problems, because of the steepest-ever decline in state revenues and the end of most federal Recovery Act assistance halfway through their coming fiscal year. As a result, governors are proposing a new round of deep budget cuts that would increase unemployment and threaten the fragile economic recovery. Without further federal aid, … -
Additional Federal Fiscal Relief Needed to Help States Address Recession’s Impact
Updated March 1, 2010
States face a serious fiscal problem that could force them to institute additional deep budget cuts and tax increases in 2010, weakening the fragile economic recovery and harming vulnerable children, seniors, and people with disabilities, among others. The federal assistance that states received for their Medicaid programs … -
Statement: Nicholas Johnson, State Fiscal Project Director, on the Passage of Revenue Measures in Oregon
January 27, 2010
In approving tax increases on the ballot yesterday, Oregon voters wisely chose a balanced approach to addressing the state’s budget crisis. They rejected the claim that revenue increases would harm the economy and, instead, they acknowledged that relying on program cuts alone would hurt …
