Reports by Elizabeth McNichol
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The Current Services Baseline: A Tool for Understanding Budget Choices
October 21, 2011
When governors and legislative bodies put forward state budget proposals, they almost always recommend changes in state policies, such as increases or reductions in the number of people eligible for state services, alterations in formulas used to fund schools and local governments, changes in staffing levels, and so on. To … -
Better-Than-Expected State Tax Collections Highlight Importance of Income Taxes
July 11, 2011
State revenues—especially income tax collections—are beginning to recover from the worst recession since the 1930s, but they still have a long way to go. At least 28 states have reported that tax collections for the just-ended fiscal year will exceed the amount expected when their budgets were adopted last spring. … -
A Common-Sense Strategy for Fixing State Pension Problems in Tough Economic Times
May 12, 2011
Restoring underfunded state and local workers’ pension programs to full fiscal health is a long-term goal for state policymakers that should be accomplished with moderate, common-sense steps, rather than drastic measures that could imperil states’ economic recoveries. Today’s pension shortfalls were caused in substantial … -
Why and How States Should Strengthen Their Rainy Day Funds
February 3, 2011
The roller-coaster economy of the last decade has highlighted the importance of state “rainy day funds” — budget reserves designed to respond to unexpected revenue declines or spending increases caused by recessions or other events. Between 2001 and 2004 and again starting in 2007, states … -
Misunderstandings Regarding State Debt, Pensions, and Retiree Health Costs Create Unnecessary Alarm
January 20, 2011
A spate of recent articles regarding the fiscal situation of states and localities have lumped together their current fiscal problems, stemming largely from the recession, with longer-term issues relating to debt, pension obligations, and retiree health costs, to create the mistaken impression that drastic and immediate measures are needed to avoid an imminent fiscal …
