Monday, October 6, 2008

State Budget Damage 'Just Beginning'

“The damage is just beginning” in state budgets, the Rockefeller Institute’s latest State Revenue Report concludes. While overall tax revenues were “superficially strong” in the second quarter of 2008, sales-tax collections are down and declines in income-tax revenue are highly likely in the months ahead. More widespread budget cuts by states “are virtually certain,” the Institute reported. Read the news release.

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