States Don't Find Stimulus Package So Stimulating

Excited about that federal stimulus package putting $600 in your pocket? State governments aren't so thrilled. Turns out the package includes a couple of nasty surprises ...
by | February 12, 2008

Excited about that federal stimulus package putting $600 in your pocket?

State governments aren't so thrilled. Turns out the package includes a couple of nasty surprises for state budgets:

The Center on Budget and Policy Priorities, a Washington think tank, estimates that two business tax cuts in the package will cost 36 states a total of $2.9 billion in lost tax revenue. While some of that loss will occur this year, most will occur during the fiscal year beginning July 1 for most states.

For states already dealing with tight budgets, this certainly isn't welcome news.

Zach Patton  |  Executive Editor
zpatton@governing.com  | 

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