Most State revenues top forecasts as U.S. governors reduce spending
Most U.S. states are collecting more revenue than they forecast this year as the economy recovers, reducing budget deficits that have persisted in the nation’s capitals since the recession.
Thirty-one states collected more than they expected when drafting budgets for the current fiscal year, which ends this month in most states, according to a report released today by the National Governors Association. Still, state leaders moved to slow the growth of spending in the coming year, reflecting uncertainty about the economy, the report found. (Selway, Bloomberg)
