Reports by Elizabeth McNichol
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13 States Face Total Budget Shortfall of at Least $23 Billion in 2009; 11 Others Expect Budget Problems
December 18, 2007
For updated data on states facing budget gaps, please see: New Fiscal Year Brings No Relief From Unprecedented State Budget Problems Summary Thirteen states, including several of the nation’s largest, face a combined budget shortfall of at least $23 billion for fiscal 2009. Another 11 states expect budget problems next year or the year … -
State Expenditure Growth Slowing
July 31, 2007
State expenditure growth is projected to slow significantly for fiscal year 2008, which is the 12-month period that began July 1, 2007 in most states. During May, June, and early July, the Center on Budget and Policy Priorities conducted a phone and email survey of state legislative and executive budget officials to learn states’ actual General … -
Illinois' Proposed Gross Receipts Tax
May 3, 2007
Governor Blagojevich of Illinois has proposed a new revenue source, a gross receipts tax (GRT), to provide funds for a major health care expansion, public education, property tax relief, and to help address the state’s long-standing budget problems. A GRT is a low-rate tax on the receipts of all types of businesses. The … -
How Strong Are State Budgets?
April 20, 2007
A new report from the National Conference of State Legislatures finds some improvement in state budget conditions for the current fiscal year (FY 2007), which in most states ends June 30, 2007, and for the upcoming fiscal year.[1] But the improvements that have occurred since budgets’ enactment last spring have been, at best, modest in … -
Rainy Day Funds: Opportunities for Reform
April 16, 2007
States are in considerably better fiscal shape than they have been since 2001. State revenues have grown rapidly over the last few years, in marked contrast to the sluggish growth or declines in revenues between 2001 and 2004. This is good news. However, a return to budget deficits is inevitable at some point.… -
Research Findings Cast Doubt on Argument That Estate Taxes Harm State Economies
January 9, 2007
In June 2001, President Bush signed federal legislation to phase out the federal estate tax. This legislation repeals the federal estate tax by 2010 and also effectively repealed by 2005 the state “pickup” taxes through which states share in federal estate tax collections. States can prevent this loss of revenue by …
