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Meredith Whitney’s Wrong Again

June 7, 2011

Wall Street analyst Meredith Whitney has a new report on state finances, according to Fortune magazine, and, unfortunately, it appears to be just as disconnected from the evidence as her last one.

Rejecting TABOR’s “Population Plus Inflation” Formula: It’s Bipartisan

May 3, 2011

Arizona’s Republican governor, Jan Brewer, vetoed a bill last week to impose a rigid cap on her state budget that would have forced even deeper cuts in education, health care, and other services than her state has already enacted.

Top Three State Tax Charts

April 18, 2011

Federal taxes tend to grab most of the attention around this time of year, but state and local taxes — such as sales taxes, state income taxes, and local property taxes — represent over a third of the total taxes that Americans pay. Here’s three charts about them.

Don’t Blame State Budget Problems on Progressive Income Tax

March 28, 2011

A Wall Street Journal story on Saturday suggested that some states set themselves up for budget problems by relying too heavily on income tax revenue from wealthy residents. The reality is far more complicated.

Targeting Working Families for State Budget Cuts Neither Smart Nor Necessary

March 16, 2011

Facing continued budget problems due to the recession, just about every governor has proposed more spending cuts for the coming fiscal year. Though cuts are needed to help states close their budget holes, some cuts make less sense than others.

Wisconsin Governor’s Budget Takes Aim at Low-Income Working Families

March 3, 2011

Wisconsin Governor Scott Walker’s budget would force low-income working families with children to pay $41 million more in income taxes over the next two years by cutting the state’s earned income tax credit (EITC), giving him some of the revenue he needs to cover $200 million in recent and proposed tax cuts for corporations and wealthier people.

States Should Take Action to Avoid Billions in Revenue Loss

March 2, 2011

A federal business tax cut that was part of the tax deal that President Obama and Congress enacted last December could cost states billions in lost tax revenue at a time when they are already struggling with recession-induced budget shortfalls and making deep cuts in education, health care and other key services. Luckily, there’s a way for states to avoid taking the hit.

S&P Agrees: A Balanced Approach Is the Right Way to Tackle State Shortfalls

February 25, 2011

With unemployment still high and revenues still 11 percent below pre-recession levels, states must close over $125 billion in shortfalls as they enact their budgets for fiscal year 2012, which begins July 1 in most states. The critical question is this: will they do so through spending cuts alone or through a more balanced approach that includes a mix of strategies, including higher revenues?

Tax Cuts Widening Wisconsin’s Budget Hole

February 23, 2011

While much of the national attention on Wisconsin in recent days concerns Governor Walker’s proposal to strip many public workers of collective bargaining rights, the role of the tax cuts in widening the state’s budgets problems also merits a close look:

For State and Local Workforce, the Recession’s Still On

January 11, 2011

The state and local government workforce — teachers, nurses, police officers, and others — continues to suffer from the 2007-2009 recession, even as the private sector slowly gains jobs.