From the Weekly State Tax Report:
Decisions made in states every day profoundly affect future economic stability and opportunities in communities across the country. States face a fundamental choice: provide the resources required for public investment in schools, transportation, health care, safe communities, and other building blocks of economic health—or cut taxes while skimping on public investment, which contributes to the concentration of economic gains among the richest households and limits opportunity for the broad majority.
When the recession hit in 2008, record-breaking declines in state revenue brought deep, job-killing cuts to schools, health care, and other key services that people depend on every day. Now, as revenue returns, states have the opportunity to invest in their economies and meet rising needs by eschewing crippling tax cuts and, instead, instituting fiscal policies that can help create jobs now and prime states for long-term, broadly shared prosperity.
Erica Williams, Deputy Director of State Fiscal Research with the Center on Budget and Policy Priorities’ State Fiscal Policy division, discusses the fiscal policies states are implementing to increase revenue in this week’s BNA Insights article, available here. Or sign up for a free trial to the Weekly State Tax Report.
Compiled by Chreasea Dickerson
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