State spending growth will likely slow in the coming fiscal year, as many governors recommend smaller increases and in some cases urge cuts, according to a survey of state officials released Thursday.
The National Association of State Budget Officers report found smaller growth in average general fund spending as well as tax collections, which are expected to decline slightly this fiscal year and the following one as economic growth slows and new tax cuts kick in. Most states start fiscal 2024 on July 1.
Already a subscriber? Sign in