The State Of State Revenues: Worse Than You ThoughtGene Koretz
The recession is taking an even greater toll on state tax revenues than expected. According to results tabulated by economist Steven D. Gold of the Center for the Study of the States at the State University of New York at Albany, the total tax take of the 49 states reporting to the center was up only 0.9% in the first quarter over its year-ago level--a drop of more than 4% adjusted for inflation. Without tax increases passed last year, Gold estimates, total tax revenues would have been down 1.3%.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Getting a Dog May Save Your Life, Especially If You’re Single
- The Questionable Math Behind Manafort’s Extravagant Home Renovations
- Musk Dusts Off the Fundraising Playbook With Semi, Roadster Orders