After Disastrous 2009, States Report Modest Revenue Growth in Early 2010

Source: Lucy Dadayan and Donald J. Boyd, Nelson A. Rockefeller Institute of Government, State Revenue Report, no. 80, July 2010

From the press release:
States’ overall tax revenues rose 2.5 percent in the first quarter of 2010 on a year-over-year basis, marking the first such gain since the third quarter of 2008, according to the latest State Revenue Report from the Rockefeller Institute of Government.

The growth in states’ tax collections, however, does not indicate broad fiscal recovery, according to the report. The overall revenue growth was largely the result of legislated tax increases in two states — California and New York. Compared with two years ago, states’ tax collections declined — by 9.3 percent — from the first quarter of 2008.

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