Taxes

What the revenue boom’s end means for states

A major drop that would force lawmakers to cut funding for key services is not expected.
(AP Photo/Elise Amendola, File)

State revenue growth is finally slowing down after soaring in the wake of the Covid-19 pandemic.

Revenue analysts are not expecting a major drop that would force lawmakers to cut funding for key services, such as schools and health care. But as tax collections soften, lawmakers in many states will have less money to spend on programs, tax cuts and one-time projects than they did two years ago.

Stay informed
Subscribe to keep reading.

Sign up today to get the latest state new at your fingertips and in your inbox.