English, Article edition: On the other hand: fiscal drag from the states Lori L. Taylor

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Physical Description
  • article
Language
  • English

Edition details

Title
  • On the other hand: fiscal drag from the states
Author
  • Lori L. Taylor
Physical Description
  • article
Notes
  • The administration estimates that President Bush’s tax plan will provide only $30 billion in economic stimulus for fiscal 2003. On the other hand, the 50 states have a combined budget gap for fiscal 2003 of nearly $26 billion. Because their constitutions require balanced budgets, most states must close that gap immediately by either cutting spending or raising revenues. Such contractionary moves at the state and local level could completely offset the near-term stimulus from the president’s tax plan.
  • Budget deficits ; State finance
  • RePEc:fip:feddin:y:2003:i:mar:x:1
Language
  • English
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