Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Loading...
Most Recent Stories

NO V-SHAPED RECOVERY IN STATE TAX REVENUES

Despite the constant chatter of v-shaped recoveries and “green shoots” states have experienced anything but a v-shaped recovery.  Budgets remain a disaster and state tax revenues are far from recovering.  Many view state tax revenues as one of the purest indicators of economic health.  Although lagging, it’s clear that this recovery is anything but v-shaped (via Rockefeller Institute):

“Figure 1 shows the four-quarter moving average of year-overyear growth in state tax collections and local tax collections, after adjusting for inflation. The year-over-year change in state taxes, adjusted for inflation, has averaged negative 9.2 percent over the last four quarters, down from the 3.3 percent average decline of a year ago and 1.1 percent average growth of two years ago. Real, year-over-year growth in local taxes was an average of 0.3 percent over the last four quarters, much lower compared to 1.8 percent for the preceding year and 3.1 percent average growth of two years ago. Inflation for the period, as measured by the gross domestic product deflator, was 0.5 percent.”

Source: Rockefeller Institute

Comments are closed.