States Expect Revenue Rise, Though Recovery Pace Slow
The steep, recession-driven slide in state revenues—a crucial piece of the education funding infrastructure—is showing signs of easing slightly, though fiscal experts warn it will still be several years before most state budgets return to their prerecession health.
For the 2011 fiscal year, nearly every state is projecting that revenues—generated mostly from personal-income and general sales-tax collections—will exceed current-year levels, although the increases in many states will be “razor thin,” according to a new report that examines fiscal conditions in the states.
But even as revenues bottom out and begin a modest uptick, mounting spending pressures, along with the tapering-off of federal economic-stimulus aid, mean that most states are likely to be grappling with budget shortfalls for at least the next two or three years, warns the report from the National...
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