The Rockefeller Institute has reported some largely encouraging data on states’ fiscal health. Average tax receipts have risen for the tenth straight quarter following the bloodshed of The Great Recession. The picture would have been much brighter if not for the outsized influence of California, which saw 2012 quarter 2 estimated tax receipts fall by 4.9% year on year.
[Cross-posted at The Monkey Cage]
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Keith Humphreys is a Professor of Psychiatry at Stanford University and served as Senior Policy Advisor in the White House Office of National Drug Control Policy in the Obama Administration. @KeithNHumphreys More by Keith Humphreys
The Washington Monthly is nonprofit and reader-supported. Your tax-deductible gift pays for the reporting you just read.
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