S&P: April Is Key as States Look to Keep Raising Revenues

Carvlin, Elizabeth
March 2003
Bond Buyer;3/28/2003, Vol. 343 Issue 31803, p3
Trade Publication
In 2003, states in the U.S. may have to double their efforts to make funds available through program cuts, tax-cut rollbacks, and borrowing, among other things, as they negotiate their 2004 budgets. In 2003 states made 8.3 billion dollars worth of cuts and revenue increasing measures, such as tax increases, said Alexander Fraser, one of the main authors of the report.For states that rely on personal income tax receipts, April 2003 will be critical both for revenue estimates and for tax receipts, the rating agency said.


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