No pot of gold likely in St. Patrick's Day state revenue forecast ….
That’s the theme of my column today. Given the increasing difficulty of forecasting state revenues and the significant downside risks, I suggest legislators underspend the revenue forecast this year. And, they should resist the temptation to kick the can forward with one-time gimmics. That these ideas continue to surface signals a lack of legislative seriousness, […]
March 03 , 2011 - Kriss Sjoblom
Pew-Rockefeller Study of State Revenue Forecast Accuracy
The Pew Center on the States and the Rockefeller Institute of Government have released a study of the accuracy of state revenue estimates. Here are the first three paragraphs from the press release: WASHINGTON — States have been making more serious errors in estimating their revenues during tough economic times, according to a new report […]
February 23 , 2011 - Richard S. Davis
Competing to deliver public services …
That’s the theme of my column this morning, which also considers some recent activity in Wisconsin (you might have read about the collective bargainng flap there) and the UK (which has not gotten the same visibility). Here’s my conclusion: Government employee unions come under increased scrutiny as budget shortfalls force cutbacks in public services. Public […]
February 23 , 2011 - Richard S. Davis
Tax Foundation releases state/local tax burden study: WA ranks 29th
The national Tax Foundation published its annual review of state/local taxes. Here’s the PDF of the report. And here’s the press release. TF uses a different methodology for calculating tax burdens than that used by some other familiar sources, including the U.S. Census Bureau. Here’s how TF describes it: For each state, we calculate the […]
February 14 , 2011 - Richard S. Davis
Tax exemptions as economic stimulus…
Strange headline over this story in Stateline.org: Despite red ink, some governors push big tax cuts for businesses. A less skeptical editor might have written, “because of red ink, some governors use tax policy to stimulate investment and job creation.” Because, well, that’s what the story is about. Governors from New York to Florida, Idaho […]