Government
States may see more budget shortfalls
NEWS IN BRIEF — Posted Nov. 10, 2008
Fifteen states, mostly large and mid-sized ones, reported a median 5.9% decline in inflation-adjusted total tax revenue for July to September, compared with the same period last year, according to a review by the Center on Budget and Policy Priorities released Oct. 27.
The last time state revenues fell this sharply was in early 2002 in the previous recession, the report said.
The decline increases the likelihood that more states will experience budget gaps, the review noted, which could lead to cuts affecting health programs such as Medicaid.
The state revenue analysis can be found online (link).
Note: This item originally appeared at http://www.ama-assn.org/amednews/2008/11/10/gvbf1110.htm.
Copyright © 2008 American Medical Association. All rights reserved.
