PEW: Alabama’s Tax Recovery from The Recession is Slow
State is minus 5.3% from collection peak
A report on tax collections from PEW indicates the states’ combined collections show an increase of 6.3 per cent in purchasing power for every dollar they collect compared to the 2008 peak collections. But the results vary state to state. Alabama is still 5.3 cents per dollar behind.
“…..growth over the two fiscal years was exceptionally weak.
Slow growth can make it hard for states to balance their budgets. Even if revenue increases, states may face higher expenditures because of population growth, changes in Medicaid costs and enrollment, and deferred or new needs for schools, safety-net programs, corrections, employee salaries and pensions, and road maintenance and construction.”
Read the PEW report here:
