Shrinking Tax Collections Clobber States

Source: Donald J. Boyd and Lucy Dadayan, Rockefeller Institute of Government, State Revenue Report, no. 74, January 2009

Fiscal conditions in the states worsened dramatically in the last quarter of 2008, according to preliminary data analyzed by the Rockefeller Institute. Total tax collections during the quarter declined more than 4 percent from the previous year, based on available data. The forecast for early 2009 looks similarly bleak.

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