States Add to String of Tax Revenue Gains.
Tax revenue rose in most states in the third quarter of 2018, and 41 states' collections have fully recovered from the Great Recession after accounting for inflation, according to Pew Trusts. We're experiencing one of the strongest stretches of growth since the downturn, although this surge shows signs of fading.
State tax revenue turned a corner in late 2017 after the weakest two years of growth outside of a recession in at least 30 years. As most states entered the 2019 budget year in July, a fourth consecutive quarter of solid gains pushed total state tax collections to 13.4 percent above the peak recorded in 2008, after adjusting for inflation.
See the report and the data at pewtrusts.org.
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|Title Annotation:||News & Numbers|
|Publication:||Government Finance Review|
|Date:||Jun 1, 2019|
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