Budget directors are still figuring out how much of the tax law’s impact on state revenues was a one-time boost.
SPEED READ:
- According to the National Association of State Budget Officers, state spending topped $2 trillion in fiscal 2018, a record high.
- The spending increase is largely driven by higher income tax revenues that resulted from last year’s federal tax changes.
- Much of the extra money has gone toward Medicaid and transportation, but education also received significant funding boosts.
GOVERNING.COM
BY LIZ FARMER | NOVEMBER 16, 2018