State Budgets in 2006 and 2007: The Fiscal Situation is Strong, but Have the States Peaked?
In 2006 state fiscal conditions were very healthy. Tax collections either met or surpassed expectations in all 50 states; spending growth was above average; balances were at near record levels; and only two states were forced to make mid-year budget cuts. The overall outlook for fiscal 2007 remains positive, although there are signs that state fiscal conditions have peaked. States have budgeted for less expenditure growth, are anticipating a reduction in revenue growth, and are preparing for future spending demands.
About the Author
Brian Sigritz is a staff associate at the National Association of State Budget Officers. He received his M.P.A. from the George Washington University and his B.A. from St. Bonaventure University. Prior to working at NASBO, Sigritz worked for the Ohio Senate and the Ohio House of Representatives.