The National Association of State Budget Officers’ (NASBO) Fall 2022 Fiscal Survey of States, released last month, reflects a more positive fiscal environment than last year and found that F
The National Association of State Budget Officers (NASBO) is reporting that total state spending rose in FY 2018, exceeding $2 trillion for the first time. While spending increased in both FY 2017 (3.8 percent) and 2018 (4.6 percent), it was still below the historical average of 5.6 percent, with the strongest growth in spending reported in the far West and Southeast. All program areas experienced an increase in total state spending, with Medicaid showing the largest percentage increase.
Many states took another hit to their budgets in April, with income tax revenue falling 4 percent compared to last year according to a new report from the Rockefeller Institute of Government. By the Numbers takes a look at the declining revenue, which it says was worse for April and May this year than had been forecast, but not as large as some states have experienced in recent years.
Many states took another hit to their budgets in April, with income tax revenue falling 4 percent compared to last year according to a new report from the Rockefeller Institute of Government. By the Numbers takes a look at the declining revenue, which it says was worse for April and May this year than had been forecast, but not as large as some states have experienced in recent years. Several explanations are explored.