- Revenue fell 14th straight month in September: Urban Institute
- Fixes include spending cuts, tax hikes, using rainy-day funds
US states’ tax revenue is sliding broadly, raising the prospect of difficult budget decisions in coming years for officials as they spend through cash amassed during the pandemic.
Total state tax revenue sank in September for the 14th straight month on an inflation-adjusted basis, falling by 5.6% from a year earlier, according to a fresh analysis from the Washington-based Urban Institute. Of those that provided information, 34 of 46 states reported year-over-year declines.
Bloomberg CityLab
By Tanaz Meghjani
November 10, 2023