State Economies Archive
Results per page: 50 | 100
Results by year: 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
-
New CBO Report Finds Recovery Act has Preserved or Created up to 1.6 Million Jobs
December 3, 2009
View the most recent version of this report: New CBO Report Finds Hundreds of Thousands of People Still Owe Their Jobs to the Recovery Act Updated May 29, 2012 A new Congressional Budget Office (CBO) report estimates that the American Recovery and Reinvestment Act (ARRA) had preserved or created between 600,000 and 1.6 million jobs as of … -
Video: MSNBC Interviews Stacy Dean on Rising Need for Food Stamps Due to Recession
December 1, 2009
Duration: 4:16
-
Recent GAO Report on Recovery Act’s Jobs Impact Widely Misunderstood
Updated December 1, 2009
Many observers have misread a November 19 report from the Government Accountability Office (GAO) examining the government’s claim that the part of this year’s American Recovery and Reinvestment Act (ARRA) consisting of grants, contracts, and loans has created or saved roughly 640,000 jobs to date.[1] Some observers have … -
The Administration’s October 30 Data Release on Jobs Created by the Economic Recovery Law: What it Told Us and What it Didn’t
Revised November 25, 2009
The Obama Administration’s October 30 release of data on jobs created and saved by the American Recovery and Reinvestment Act (ARRA), which the Administration and Congress enacted early this year, captured only a portion of the jobs created and saved due to ARRA’s limited reporting requirements. According to the Government Accountability Office, ARRA’s reporting system … -
Relief for States and Struggling Families Provides Substantial Boost to Employment
November 20, 2009
The economy is in a very deep hole and faces a long climb back to full employment. Policymakers can make that climb easier by extending or bolstering key provisions of the American Recovery and Reinvestment Act (ARRA) enacted at the start of the year — particularly those related to unemployment insurance and state … -
Video: CNN cites CBPP on Potential Job Losses Due to State Budget Cuts
November 12, 2009
-
Podcast: State Budget Cuts and Tax Increases Put Fragile Economic Recovery at Risk
November 11, 2009
The risk that, without more federal aid, states efforts to address their budget problems could cost the economy 900,000 jobs is discussed by Bob Greenstein, Mark Zandi, chief economist of economy.com, and Senior Advisor Iris Lav.
Duration: 21:42
-
Raising State Income Taxes on High-Income Taxpayers
Revised November 11, 2009
As states face increasingly difficult choices for closing the gap between available resources and the cost of needed programs and services, one potential revenue source can be found at the high end of the income tax spectrum. The personal income tax, a major source of revenue for 41 states, can yield a significant amount of money from small rate increases … -
Correcting Five Myths About the Stimulus Bill
Updated September 23, 2009
Some critics of the economic recovery law (or “stimulus” bill) that President Obama and Congress enacted early this year continue to mischaracterize how it was supposed to work and what it was supposed to do. For instance, some critics complain that, because unemployment has risen in recent months, the law is not working. Others claim … -
Expanding Sales Taxation of Services: Options and Issues
August 10, 2009
Sales of tangible goods dominate most states’ sales tax bases; only a few states impose their sales taxes on a broad array of services. Sales of “non-durable goods” like clothing and light bulbs and “durable goods” like cars and computers generate the vast majority of state sales tax receipts. According to the … -
Press Release: Facing Deficits, More States Considering Taxing Services
August 10, 2009
Broadening the sales tax base to encompass more services, a step that tax experts have long recommended to modernize state tax systems, is receiving renewed attention because of the state fiscal crisis, according to a major new report from the Center on Budget and Policy Priorities. The report provides state-specific information on what … -
Myths and Realities About How States Are Using Economic Recovery Act Funds
July 9, 2009
Two major misconceptions about how state governments are using funds from the economic recovery law that President Obama and Congress enacted early this year are contributing to a broader misunderstanding about whether the law is, in fact, helping the U.S. economy. Evidence that includes a major new report from the Government Accountability Office (GAO) … -
Tax Measures Help Balance State Budgets
Updated July 9, 2009
With the recession continuing to widen the gap between shrinking revenues and residents’ increasing need for services, a growing number of states are adopting a balanced approach to their budgets that includes revenue increases as well as spending cuts. Since January 1, 30 states have raised taxes and another seven states are considering doing … -
Video: CNN cites CBPP on State Budget Cuts
July 5, 2009
-
Video: Jon Shure Talks About the State Budget Crisis on CSPAN's Washington Journal
July 2, 2009
-
Audio Clip: Bloomberg Radio Interviews Iris Lav on the State Budget Crisis
July 1, 2009
-
Video: CNN Interviews Jon Shure on the State Budget Crisis
July 1, 2009
-
Federal Fiscal Relief Is Working As Intended
Updated June 29, 2009
As dire as the states’ fiscal condition is — with dramatic revenue downturns leading in some cases to unprecedented service cuts — evidence shows this bad situation would be substantially worse if not for federal recovery assistance. The $787 billion American Recovery and Reinvestment Act package enacted in February included about $140 billion for states … -
Press Release: New Fiscal Year Brings Painful Spending Cuts, Continued Budget Gaps In Almost Every State
June 29, 2009
The 2010 fiscal year begins for most states July 1. It brings an austere continuation of recession-driven cuts in essential services and poor prospects for improvement through 2011, according to a series of updated reports on state budget conditions issued today by the Center on Budget … -
Audio Clip: Nick Johnson, Director of the State Fiscal Project, Discusses State Budgets on NPR’s The Diane Rehm Show
June 25, 2009
-
Video: Fox Business Interviews Jon Shure on State Budget Problems
June 22, 2009
-
Video: CNN cites CBPP on States Balancing Budgets with Tax Measures
May 22, 2009
“The Center on Budget and Policy Priorities argues, ‘Listen, cutting services is even more painful for lower-income families than raising taxes.’ They also say those tax increases can target the wealthy. And that’s exactly what we’re seeing…” -
Video: Fox News Channel Interviews Elizabeth McNichol on State Budget Troubles
May 22, 2009
“…A study from the Center on Budget and Policy Priorities reveals 47 of the 50 states are facing substantial budget gaps this year…. All told, the states are nearly $60 billion in the hole for 2009. Next year, the gap will grow to $133 billion. Experts say it won't … -
Video: NBC Nightly News Cites CBPP on State Budget Troubles
May 22, 2009
“The Center on Budget estimates that in 2010 47 states will face deficits totaling $145 billion.” -
Obscure Tax Provision of Federal Recovery Package Could Widen State Budget Gaps
May 19, 2009
States could lose up to $5.5 billion in business income tax revenues over the next three years as a result of a little-known provision in the federal economic recovery package enacted in February. States can, however, easily avoid this revenue loss by making offsetting changes in their tax laws. For states to allow … -
Press Release: More States Are Raising Revenues to Help Close Budget Gaps
May 13, 2009
As tax revenues continue to fall dramatically, making a prolonged budget crisis likely, more states are raising revenues, or considering doing so, to help maintain important services, according to one of a series of updated reports on state budget conditions that the Center on Budget and … -
Minority of States Still Granting Net Operating Loss “Carryback” Deductions Should Eliminate Them Now
Revised May 11, 2009
As a result of the current recession, nearly all states are experiencing the most serious fiscal crisis of at least the last 25 years. Many are already being forced to cut vital services, lay off employees, increase taxes and college tuitions, and tap reserves. In this context, they can ill-afford maintaining any … -
Podcast: Where Do Our State Tax Dollars Go?
May 6, 2009
Given the budget problems states face due to the recession, policymakers will confront important choices about how to pay for important government services and programs. To inform this crucial decision making, it is useful to examine where state tax dollars go as well as changing trends over time.
Duration: 5:35
-
Reforming the Tax Treatment of S-Corporations and Limited Liability Companies Can Help States Finance Public Services
April 8, 2009
Nineteen states impose only nominal taxes on businesses organized as subchapter S Corporations (S-Corps) or Limited Liability Companies (LLCs) even though these entities — which generate about one-fourth of all business receipts — benefit from state services just as businesses that are subject to state corporate income taxes do. In addition, many … -
If States Fail to Use Stimulus Funds as Intended, Efforts to Strengthen Economy Could Be Undercut
February 24, 2009
A few governors and legislative leaders have suggested that their states might not accept the full amount of fiscal relief in the new recovery legislation or might use the funds to finance tax cuts or build up reserves, rather than spend them as Congress intended.[1] Such actions could weaken the new law’s impact, and possibly even … -
Funding For States in Economic Recovery Package Will Close Less Than Half of State Deficits
February 20, 2009
The state fiscal situation is dire. Revenues are declining, and the need for services such as Medicaid is rising as people lose income and jobs. Before passage of the economic stimulus package, state deficits were projected to equal $350 billion over the next 30 months. Because nearly all states are required to balance their budgets, states have begun to cut … -
Video: NBC Nightly News interviews Nick Johnson on State Budget Problems and the California Budget Crisis
February 17, 2009
-
Testimony: Sharon Parrott at the Hearing "Building a Foundation for Families: Fighting Hunger, Investing in Children" before the House Budget Committee
February 12, 2009
Thank you for the opportunity to speak with you today about the current recession, its impacts on poverty and families, and the recovery package. The current recession already has pushed up the unemployment rate from 4.9 percent in December 2007 to 7.6 percent in January 2008. Alternative measures of the labor market paint a bleaker picture.… -
Most States Are Cutting Education
Updated February 10, 2009
Note: Please see Most States are Imposing Cuts that Hurt Vulnerable Residents for updated information about education cuts in state budgets. Thirty-six states have cut education or proposed such cuts because they face massive, devastating budget deficits in this recession. The combination of rising unemployment, declining consumer … -
Current and Projected State Deficits
Revised February 4, 2009
The three main organizations that track state fiscal conditions — the National Conference of State Legislatures, the National Association of State Budget Officers and the Center on Budget and Policy Priorities — have found large and growing shortfalls in the vast majority of states. There may be some confusion, however, … -
Converting State Fiscal Relief to Loans Would Render It Ineffective As Stimulus
January 7, 2009
Senate Minority Leader Mitch McConnell’s recent suggestion that the federal government give states loans, not grants, for fiscal relief would make the recovery package considerably less effective in stabilizing the economy and preventing the recession from becoming deeper and more prolonged.…
