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.

Join the Discussion

After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.

More from View