Balancing Act

Although a balanced-budget amendment to the Constitution is likely to pass Congress soon, states may be reluctant to ratify it. A new study shows why: A balanced federal ledger could cost the states $67 billion a year in aid from Washington, estimates Steven D. Gold at the nonpartisan Center for the Study of the States in Albany, N.Y. Worse, says Gold, the GOP's $200 billion tax-cut plan could cost states billions in revenues since more than 40 tie their tax codes to the federal system.

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