Out of Control Policy Blog

Revenue Declines Add to State Budget Woes

Stateline.org reports that May and June tax revenue collections are declining more than expected in a number of states, opening up new or larger budget shortfalls at the worst possible time. The chart below shows the state of play today, but you can expect the problems to spread as more revenue estimates are released.

And in a separate Stateline piece today, there's this gem:

Tiny Vermont is the exception to budget woes buffeting most of the states – so far. The Burlington Free Press this week quoted a top state official as saying that preliminary figures indicated the state would finish the budget year that ended June 30 with its general fund in the black. But it said Vermont avoided a deficit primarily because more than $10 million in taxes were paid on one deceased person's estate in May.

For some thoughts on what states can do to put themselves on a fiscally sustainable path, see my latest Reason.org column here.

Leonard Gilroy is Director of Government Reform

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Comments to "Revenue Declines Add to State Budget Woes":

Bryan | July 11, 2009, 6:38am | #

As revenue decline the government budget became at stake. Apparently we can’t expect high revenue since recession is not yet over, there are more revenue when there is economic stability. Revenue came from the taxes being paid by the business sectors, I resume you are aware that most businesses stumble as recession struck the whole world. To sum it up we are on the peak of recession. Everything’s when it come to profit or income tends to decline. Anyway have you heard about Big Green Egg. There are recipes and blogs popping up all over the internet with instructions and recipes for making everything from barbecued pork to baking bread to home made pizza on the Big Green Egg, and it might just be worth some short term loans to get one.

Frank | July 28, 2009, 8:30am | #

Microsoft revenue declined 17 percent and net income declined 29 percent year over year in its fiscal 2009 fourth quarter due to continued weakness in global sales of PCs and hardware servers, the company reported Thursday.But Viagra and generic tadalafil sales increased during first months, strange.

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