State revenue forecasting has always been a complex task. Given these challenges, state forecasters tend to underestimate rather than overestimate revenues to avoid potentially severe...
Cities, counties, and other local governments have traditionally relied on property taxes as a substantial and stable revenue stream. But with remote work taking hold...
High inflation appears to be giving way to an economic “ soft landing ,” alleviating concerns state forecasters had heading into the current fiscal 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.
New jobs data show while private employment fully recovered over a year ago, state and local public employment remains below its pre-pandemic peak. Overall, total...
As the American Rescue Plan Act (ARPA) celebrated its two-year anniversary on March 11, some applauded a law that sped an economic recovery while others...
Thanks to surging tax revenues and an unprecedented infusion of federal aid, many states cut taxes over the past two years by lowering individual income tax rates, expanding tax credits, or sending one-time checks to residents. But there is another way states can use these funds: reduce or eliminate some local criminal legal fines and fees.