Many states are on solid footing and expect to enjoy surpluses. But a couple are staring down sizable budget gaps.
With a few major exceptions, state officials expect their budgets to be in strong positions for the coming year. The robust projections come even as worries linger about the health of the nation’s economy overall.
“The economy has proved much more resilient than anybody expected,” said Shelby Kerns, the executive director of the National Association of State Budget Officers.
Governors and lawmakers have been cautious in spending new revenue, given recent disruptions in the economy. They’ve watched warily to see how the pandemic, supply chain disruptions, record-setting inflation and increased borrowing costs would affect state budgets, she said.
ROUTE FIFTY
by DANIEL C. VOCK
DECEMBER 16, 2022