Bad News that May be Good News
In the most recent report on state tax collections, all three major tax sources are still recording year-over-year declines. The good news is that the declines are smaller than they have been, suggesting that the worst may be behind us. Only time will tell whether the encouraging trend lines can be sustained.
Energy States March to Beat of Different Drummer
The last several national recessions have been accompanied by an increase in energy prices. While the majority of states fell victim to these recessions, the small group of states that rely on energy for a significant share of their state economies have benefited.