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REVENUE

Revenue

Like any business or household, revenues play a critical role for states in determining their levels of spending. Nearly every state is constrained by a balanced budget amendment requiring their general fund expenditures not to exceed revenues (though budget games have allowed them to relax this constraint considerably). When times are tough, many legislators who loathe cutting programs turn to higher taxes as a way to increase revenue. However, as economist Arthur Laffer has shown, higher taxes do not always increase revenue. Minnesota, for example, has been driving high-earners (and their tax dollars) out of the state with its' unfriendly tax climate. Understanding the dynamics of taxation and state revenues is essential for anyone who seeks solutions to state revenue problems; SBS is here to help.

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    • HEADLINES: Kentucky

      NKY priorities funded in state budget compromise

      Cincinnati.com | by Amanda Van Benschoten | March 31, 2014

      Legislative leaders spent 18 hours at the negotiating table overnight, but they emerged early Sunday morning with a $20 billion two-year state budget that includes three of Northern Kentucky's top priorities. 

    • HEADLINES: Connecticut

      Conn. committee adds $12.3 million to Malloy plan

      Boston.com | by Susan Haigh | March 27, 2014

      The General Assembly's budget-writing committee is recommending that $12.3 million be added to Gov. Dannel P. Malloy's budget proposal for next fiscal year.

    • HEADLINES: Maryland

      House approves $38.7 billion state budget

      The Baltimore Sun | by Timothy B. Wheeler | March 27, 2014

      The House of Delegates gave preliminary approval Wednesday to a $38.7 billion budget that trims the governor's plan but still provides raises to state workers and levies no new taxes.

    • HEADLINES

      Increased federal aid to states is a long term trend

      State Budget Solutions | by Bob Williams, Joe Luppino-Esposito | March 26, 2014

      State Budget Solutions’ analysis of the latest data shows that, between 2001 and 2012, the percentage of general revenue dollars coming from the federal government increased in 41 states. Click here to see how much your state gets from the feds.

    • HEADLINES: Mississippi

      Lawmakers putting final touches to state budget

      Mississippi Business Journal | March 26, 2014

      Mississippi legislators expect to be busy this week working out final details of a $6 billion budget for the coming year.

    • HEADLINES: Illinois

      Quinn budget makes tax hike permanent

      The Chicago Tribune | by Ray Long and Monique Garcia | March 26, 2014

      Illinois Gov. Pat Quinn has prepared an election-year spending proposal that would make permanent the 67 percent income tax increase set to expire in 2015 and couple it with property tax relief for homeowners.

    • HEADLINES: New York

      State Budget Talks Break Down as Deadline Nears

      Gannett | by Jon Campbell | March 24, 2014

      No one can say for sure what happened in closed-door state budget negotiations Friday morning, aside from the four men and their aides who were in the room.

      This much, however, is for certain: It didn't go well.
    • HEADLINES: Idaho

      Otter orders more transparency on federal spending, preparation for cuts

      Idaho Reporter | by Dustin Hurst | March 24, 2014

      Idaho Gov. Butch Otter has issued an executive order that will help Idahoans identify the sources of funding for government programs and initiatives.

    • New York

      Legislative leaders agree to add $500M to state budget

      The Rochester Democrat & Chronicle | by Joseph Spector | March 21, 2014

      Nearly half of the money -- $240 million -- would go toward extra aid for education, in addition to the nearly $22 billion proposed for schools by Gov. Andrew Cuomo in his budget proposal Jan. 21.

    • HEADLINES: New York

      New York state budget could overhaul existing estate tax rules

      Investment News | by Darla Mercado | March 20, 2014

      Legislators in New York this week are negotiating over Mr. Cuomo's proposed $140 billion budget for the 2014-15 fiscal year, which begins on April 1.


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    • RESEARCH

      Federal Aid to the States 2008-2011

      by Kristen De Pena | February 21, 2013

      It is well understood that the federal government must make spending cuts-these cuts will most likely drastically change the amount of federal dollars that are allocated to the states. Unfortunately for most states, dependence on federal funding has continually risen since 2008.

    • RESEARCH

      Fiscal Policy Report Card on America's Governors: 2012

      The CATO Institute | by Chris Edwards | October 9, 2012

      This fiscal report card on the governors examines state budget actions since 2010 using statistical data to grade the governors on their taxing and spending records-governors who have cut taxes and spending the most receive the highest grades, while those who have increased taxes and spending the most receive the lowest grades.

    • RESEARCH

      2013 State Business Tax Climate Index

      The Tax Foundation | by Scott Drenkard Joseph Henchman | October 9, 2012

      The Tax Foundation's 2013 edition of the State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states' tax systems compare. The absence of a major tax is a dominant factor in vaulting many of these ten states to the top of the rankings.

    • RESEARCH

      State Budget Crisis Task Force Report

      State Budget Crisis Task Force | by Richard Ravitch and Paul Volcker | July 17, 2012

      State finances are not transparent and often include hidden liabilities as well as rapidly growing responsibilities which are difficult to control.  While state revenues are gradually recovering from the drastic decline of the Great Recession, they are not growing sufficiently to keep pace with the spending required by Medicaid costs, pensions, and other responsibilities and obligations.  This has resulted in persistent and growing structural deficits in many states which threaten their fiscal sustainability.

    • RESEARCH

      Spring 2012 Fiscal Survey of States

      States will face particularly intense budgetary challenges in education and health care in fiscal 2013, putting pressure on all budget areas - including corrections and infrastructure. As budgets face strain from slow revenue growth and expenditure pressures, states will likely confront tough budgetary choices in the next fiscal year.

    • RESEARCH

      Rich States, Poor States

      ALEC American Legislative Exchange Council | by Arthur B. Laffer, Stephen Moore and Jonathan Williams | April 12, 2012

      This fifth edition of Rich States, Poor States provides 50 unique snapshots from our "laboratories of democracy" for you to evaluate. Study the rankings, read the evidence, and learn about the proven principles that lead to economic growth, job creation, and a higher standard of living for all Americans.

    • SOLUTIONS

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • SOLUTIONS: New York

      The Case for a Cap

      The Empire Center | December 7, 2011

      This report analyzes the tax cap proposal in light of previous efforts to limit property taxes in New York and other states. Among the findings, New York's local property tax levels are exceptionally high by national standards and have grown by more than double the inflation rate over the past decade, justifying the governor's push to limit future growth.

    • SOLUTIONS: Georgia

      Eight Affordable Ideas for Georgia

      The Georgia Public Policy Foundation | by Eight Affordable Ideas for Georgia | December 2, 2011

      Georgia should continue to push the reforms that have made this one of the best managed states in the nation, but innovation is the best opportunity for true reform. Tax, regulatory and tort reform will create the right conditions for innovation in the private sector while the state pursues innovation in the areas of criminal justice, education and heath care.

    • SOLUTIONS: North Dakota

      Moving Forward

      The North Dakota Policy Council | November 29, 2011

      A guide to needed reforms in pensions, taxes and higher education, among other areas, with  two types of goals that are important when working towards limiting government: long-term policy objectives that show the end-game goals and short-term policies that steer public policy towards the long-term goals. This guide provides both.

    • SOLUTIONS: Nevada

      One Sound State, Once Again

      The Nevada Policy Research Institute | by Geoffrey Lawrence | November 3, 2011

      Nevada seriously needs genuine, revenue-neutral fiscal reforms, and this report seeks to fill that vacuum. It analyzes the actual volatility of Nevada's current taxes - and the taxes lawmakers keep signaling they want. It covers important tax-related issues, such as achieving economic efficiency and tax equity, while reducing compliance costs as well as tax-induced distortions in economic behavior. It advocates implementing priority-based budgeting.

    • SOLUTIONS: Oregon

      How to Turn Oregonís Business Climate Around

      The Cascade Policy Institute | by Steve Buckstein | November 3, 2011

      Article presenting the elimination of the Oregon state income tax and the end forced unionism as solutions to both budget problems and lack of business growth.

    • SOLUTIONS: Nebraska

      Pro-Growth Strategy for Nebraska

      The Platte Institute | by Eric Thompson | September 1, 2011

      This report focuses on limiting the regulatory burden in the state and other types of recommendations to improve growth.

    • SOLUTIONS: Illinois, California, Texas

      Amazonian-Size Taxes

      by Kristen De Pena | July 11, 2011

      Proposals to tax Internet retail sales are all the rage as states continue to look for more ways to balance their budgets in the face of revenue shortfalls.

    • SOLUTIONS

      Rich States, Poor States 2011

      Bloated state spending levels and trillions of dollars in unfunded government employee pension liabilities pose huge financial obstacles to economic recovery in the 50 states today. This begs the million-or trillion-dollar question: Why are some states prospering while others are still struggling?

       

       

       

       

    • SOLUTIONS: Texas

      Texasí Fiscal Future

      The Texas Public Policy Foundation | by Arthur B. Laffer | April 1, 2011

      There has been an impression created in the press and embraced by many that the LBB report suggests that adoption of the bill CSHB1 by Texas would cost Texas 272,000 jobs in 2012 and 335,000 jobs in 2013. This answer, at least as interpreted by the press, is wrong and not based on sound economics. The passage of CSHB1 will not cause less jobs in Texas relative to any other option at hand.