Budget outlooks dim in states after record revenues

Lawmakers are facing shortfalls for the first time since the pandemic began.
The California State Capitol Building in Sacramento (Reid Wilson / Pluribus News)

The heady days of soaring state tax revenues are coming to an end.

After raking in surpluses in recent years, a growing number of states now face deficits that will force lawmakers to cut spending, borrow money or raise taxes when they meet next year to pass budgets for Fiscal Year 2025.

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