Tax Policy Center

Revenue Forecasts

State and Local Issues: TaxVox

State Rainy Day Fund Balances Reached All-Time Highs Last Year

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.
September 6, 2023Aravind Boddupalli
State and Local Issues: TaxVox

Navigating Fiscal Uncertainty: Weak State Revenue Forecasts for Fiscal Year 2024

With more fiscal data coming in, the long-term health of state budgets looks murky. After a run up in 2022 , preliminary data show a...
August 4, 2023Lucy Dadayan
State and Local Issues: TaxVox

State Revenue Forecasts Look Bleak as Revenue Boom Subsides

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...
March 14, 2023Lucy Dadayan
State and Local Issues: TaxVox

COVID-19 Pandemic Could Slash 2020-21 State Revenues By $200 Billion

Revised forecast data from 27 states suggest tax revenues are expected to fall $34 billion short of pre-COVID-19 forecasts in fiscal year 2020.
July 1, 2020Lucy Dadayan