Surplus
With Revenues Rising, Texas Sees $1.6 Billion Surplus on Horizon
One of the biggest budget shortfalls in recent Texas history could give way to a $1.6 billion surplus by the end of next fiscal year, according to Susan Combs, the state comptroller. Combs reported Monday (December 12) that state tax revenues, especially those on sales and natural gas production, are expected to climb significantly over […]
41 States Posting Surpluses
Most states are finding extra money in their coffers just as they craft budgets for the coming year. Forty-one states figure to end this fiscal year with a total of $31 billion more than planned. Ten states are in the enviable position of unexpectedly having an extra $1 billion or more to help balance budgets, […]
Surpluses, Social Issues Mark 2006
Stateline.org highlights significant state policy developments and trends each year in its State of the States report, which will be available in early January. In the first of a series of excerpts from the publication, we look at state politics. Statehouses awash in surpluses ventured into new projects in 2006, from first-in-the-nation preschool for […]
42 states foresee a surplus this fiscal year
Forty-two states project to end this fiscal year with a surplus totaling $28.9 billion, making it easier to balance budgets and reinvest in programs cut during the fiscal downturn in the first half of this decade, according to a report available April 10 from the National Conference of State Legislatures. After weathering years of budget […]
Amid State Surpluses And Tax Cuts, Slowdown Looming?
Tax-cut advocates are having a field day in statehouses around the country, emboldened by the lengthiest economic boom in U.S. history. Thirty-six states closed out fiscal year 2000 with surpluses greater than 5 percent of their annual budget, a target recommended by Wall Street analysts, according to the National Conference of State Legislatures. Of the […]
Maine’s Pleasant Political Problem: Fate Of Surplus
AUGUSTA — The second regular session of the 119th Maine Legislature convenes in Augusta in less than a month, and it’s expected to be unlike any that has preceded it. That’s because lawmakers this time will have a huge surplus to work with. The battle lines already are being drawn. The Democratic majority in both […]
Governors Highlight Budget Surpluses, Share Ideas
ST. LOUIS, Missouri — A golden era reigns for America’s 50 state governors, most of whom are in St. Louis this week to share ideas and do some politicking at the 91st annual meeting of the National Governors’ Association. The four-day meeting, which opened Saturday, comes at a time when state budget surpluses are at […]
State Tax Cutting Brightens Outlook For Taxpayers In 2000
WASHINGTON – Thirty-seven states enacted tax cuts totaling $8.1 billion in fiscal year 1999 revenue losses, while only eleven states raised taxes, according to a year end summary of 1998 tax and budget actions released Wednesday by the Center for the Study of the States. Eight of the eleven states that enacted tax hikes cut […]
State Tax Collections Up For Sixth Straight Year, Report Says
WASHINGTON- Spurred by an 11.2% increase in income tax collections nationwide, total state tax revenue rose 6.9% during fiscal year 1998, according to a report released today by the Center for the Study of the States. Revenue collections from income, sales, and corporate taxes exceeded original budget estimates by $11 billion dollars, and were higher […]
Three States Buck Tide by Eyeing Tax Hikes
At a time when governors and legislators across the nation are swimming in surplus revenue and striving to outdo each other in fashioning politically attractive tax cuts, Alaska, West Virginia and Maryland are going against the tide by considering significant tax hikes. In the most noteworthy case, Alaska Governor Tony Knowles, a Democrat, is mulling […]