Thursday, June 15, 2017
Recession omen: 33 states to miss revenue targets, highest number since 2010
From the story here:
Thirty-three states will miss revenue projections in Fiscal Year 2017, according to the National Association of State Budget Officers. That’s the highest number of states to miss revenue targets since 2010, during the middle of the recession, when 36 states missed projections.
In total, states anticipate revenues falling short by $12 billion. Most of the shortfall comes from sales tax collections, which are projected to be down $6.6 billion. That troubles some economists because sales taxes are traditionally the most stable revenue sources for states.