Biting the Budget Bullet

Brief

Biting the Budget Bullet

Why Raising Taxes is the Least Painful Way out of the State's Fiscal Crisis

Abstract

[Boston Globe] Like Massachusetts, state governments across the nation are facing budget deficits of historic proportions. Next year, they will face combined projected shortfalls of between $70 billion and $85 billionor about 15 percent of all the money they spend out of their general funds. In response, they are cutting back on vital services, curtailing school hours, and restricting access to Medicaid, as well as raising tuition at public universities and increasing taxes. Kentucky is releasing non-violent prisoners early to reduce costs. Missouri has even resorted to unscrewing every third lightbulb in state buildings to save on electricity.

To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.

LATEST IN Education and Training

To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.