Economic tailwind from flush states

News Summary

  • To plug the hole, there were deep cuts to state programs.What to watch: State officials are paring back expectations for tax revenues, bracing for an economic slowdown.
  • Illustration: Aïda Amer/AxiosState and local governments are facing very different circumstances than they did during the yearslong slog that followed the Great Recession: They are swimming in cash.Why it matters: State lawmakers have begun to hash out budget plans for this fiscal year.
  • Flashback: In the aftermath of the 2008 crisis, state finances came under stress and miserable conditions lingered, with revenues plunging.
State and local governments are facing very different circumstances than they did during the yearslong slog that followed the Great Recession They are swimming in cash.Why it matters State lawmak [+2868 chars]