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States’ tax revenue rose 8.9 percent in last fiscal year
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| Contributor | ArmyDem |
| Last Edited | ArmyDem Apr 12, 2012 08:42pm |
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| Category | News |
| Media | Newspaper - Washington Post |
| News Date | Friday, April 13, 2012 02:00:00 AM UTC0:0 |
| Description | By Michael A. Fletcher, Thursday, April 12, 8:48 PM
The severe fiscal problems that crippled state budgets and sparked brutal political battles in the wake of the recession are easing, as state tax revenue rose substantially last year, the Census Bureau reported Thursday.
State tax collections were up 8.9 percent in the fiscal year that in most states ended last June. The improvement spanned the country, with all 50 states reporting an increase in tax collections — something just 11 states experienced during the previous fiscal year.
The fiscal crisis faced by states had been the source of immense political battles across the country as governors and legislators took unprecedented steps to balance budgets and get a handle on ballooning debt.
California, Florida and New York were among the states that slashed education and other aid to local governments. Others moved to rein in public employees’ pay and retirement benefits. And in Ohio and Wisconsin, Republican governors drew national attention by curtailing the collective bargaining rights of public workers.
Those efforts fueled an immediate backlash that has reshaped the political landscape in potential swing states seen as crucial to the presidential election. In Ohio, voters restored collective bargaining in a November vote, while Wisconsin Gov. Scott Walker (R) faces a recall election in June, the third governor in U.S. history to do so.
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