Report: Governments Facing Big Spending Pressures in 2005

Vadum, Matthew
January 2005
Bond Buyer;1/5/2005, Vol. 351 Issue 32043, p5
Trade Publication
The article reports that although state and local governments are now recovering from the fiscal downturn that began in 2001, spending pressures continue to strain their finances. Even with the improved economy and legislated tax increases, state tax revenue remains about 8% below its 2000 peak after adjusting for inflation and population growth. Many states that used one-time-only solutions in recent years in order to put off the policy choices that lower revenue required will soon have to grapple with difficult choices such as further spending cuts or tax increases.


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