12:00 am
August 3, 2015
TaxVox (the Tax Policy Center’s blog) has a post today about the problems some states have had in meeting budget deadlines this year. It suggests that politics — not economics — is the source of the issue.
During the Great Recession and its aftermath, the economy wreaked havoc on state budget negotiations, forcing tough votes on spending cuts and tax increases. Since then the economy has improved, state tax revenue are growing, and legislatures have more room to maneuver during budget season. Yet havoc still reigns in many statehouses. In fact, it might be getting worse.
Last year only two states (Massachusetts and Pennsylvania) failed to pass a budget by June 30, the end of the fiscal year in all but four states. This year eight states missed their budget deadlines.
Of course, Washington only barely escaped being one of these states this year. (Here’s our report on the enacted 2015-17 budget.)
Categories: Budget , Categories , Current Affairs.