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State Tax Revenues Fall 5.5%

The Center on Budget and Policy Priorities has published State Revenues Plummet:  July-September Revenue Numbers Are Worst in Years, by Nicholas Johnson & Andrew Nicholas:

States are beginning to report revenue collections for the July-September 2008 quarter, and the new figures raise the likelihood that large, additional budget shortfalls are developing. Of 15 mostly large and mid-sized states that have published complete data for this period, the majority collected less total tax revenue in July-September 2008 than was collected in the same period in 2007. … After adjustment for inflation, total revenue collections are below 2007 levels in 14 of the 15 states.

Weekend Wall Street Journal:  States' Tax Receipts Fell Sharply in Latest Quarter, by Jesse Drucker [click on chart to enlarge]:

State Tax Receipts


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