Revenue Forecasts

As states navigate an uncertain fiscal future , a lot of budget commentators will justifiably note that nearly every state cut taxes during the last few revenue boom years. But most states also stocked a lot of money into their savings accounts over the past three years – and this may help them weather forthcoming budget storms.

States saw robust tax revenue growth in fiscal years 2021 and 2022, largely caused by federal and state policy actions. But forecasts now look much...