by Axios | 12.14.18
Most states have shown strong revenue performances throughout fiscal year 2019, but five states — Idaho, Maine, Missouri, New York and North Carolina — are experiencing shortfalls, according to a report from the National Association of State Budget Offices.
Why it matters: Those five states' underperformance is in part a reaction to 2017 GOP tax cuts. The states, like most others, are still assessing how the cuts affect them, and are making increases or decreases to their revenue collection forecasts for fiscal year 2019 accordingly.
Yes, but: The data used in the report was collected in September and October. The numbers are still subject to change, Kathryn White, a senior policy analyst for NABSO, told Axios.
By the numbers: Already, 14 states are reporting that they're on pace to reach their target revenue collection goals for fiscal year 2019, and 19 states are reporting that they'll be able to exceed that goal.
What's next: As states begin to bring in revenue from tax collections and other resources, they'll begin to get a better idea of where they stand in fiscal year 2019.
Photo: John Greim/LightRocket via Getty Images
Written by Axios
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