Tuesday, February 23, 2010

State Revenues - A Comparison

Thought I'd share this interesting chart that I came across on Stateline.org

It's interesting to see where state funding comes from.
States that rely too heavily on one tax are vulnerable to revenue fluctuations that can be especially harmful during recessions. In Oregon, for instance, where individual income taxes account for 44.1 percent of total government tax revenue, lawmakers this year were slammed by a huge revenue decline as employment — and personal income — decreased. That has resulted in major spending cuts and is forcing some school districts to resort to four-day weeks.

Connecticut relies heavily on property tax and income tax... an income tax which by the way was supposed to be "temporary".

With regard to state budgets - Governors believe that the worst is yet to come...

Green Shoots anyone?