Emerging Trends in State Budgets: Revenue Growth Slows but Spending Pressures Remain
Strong tax collections in recent years have bolstered state treasuries and paved the way for initiatives in health care and education reforms. However, states are likely to face challenges from slowing tax collections, a resumption in Medicaid’s traditional spending growth, pressures in K-12 education, and new accounting requirements for employee health benefits.
About the Author
Brian Stenson is an investment banker with RBC Capital Markets. He was previously Deputy Director of the Rockefeller Institute of Government. Brian previously served as SUNY’s Vice Chancellor for Finance and before that was Deputy for Fiscal Planning in the New York State Budget Division. Brian received his B.A. and M.P.A. from the University at Albany.