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Winter 2023 State Budget Update

Despite an anticipated slowdown in revenue growth, most states remain in stable fiscal condition due to cautious budgeting and recent surpluses. These surpluses, combined with federal aid, have allowed states to build up rainy day funds and make one-time investments.
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States Adapt Tax Laws as Online Sales Surge

The U.S. Supreme Court decision that gave states the power to collect sales tax from online retailers has had a huge impact on state revenues and government services. Retail e-commerce sales are estimated to grow to $8 trillion in 2027.

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