The State Of State Revenues: Worse Than You Thought

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%.

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