States' Revenue Forecasts Increasingly Off-Base
03/01/2011 - Revenue forecasts made by America's state governments are increasingly missing the mark, a trend that is aggravating political, fiscal and social pain as most of the 50 states grapple with budget shortfalls, according to two leading think tanks.
"The main cause of the increase in volatility appears to be the state's growing reliance on income taxes and the ways in which highly volatile capital gains affect income tax revenue," the Pew Center on the States and the Nelson A. Rockefeller Institute of Government said in a new study.
Read the full article at reuters.com.
- States' Fiscal Health