Surveys Finds States Continue to Face Budget Shortfalls
Denver—For the first time since the end of the Great Recession, a significant number of states find themselves facing budget shortfalls, according to a report released by the National Conference of State Legislatures (NCSL).
The report, “State Budget Update,” recently surveyed legislative fiscal offices about their state’s fiscal conditions. The report highlights their responses.
A few of the key findings include:
- For the 2017 fiscal year or the current biennium—for states that enact a two-year budget— 22 states reported their state had addressed, or would address, a budget shortfall before the end of the fiscal year.
- The situation in most states remains stable. Many states, however, describe slow revenue growth as a challenge. Caseloads and the need for government services continue to increase, and revenues are not keeping pace with demand.
- A majority of states (33) expect to meet their latest revenue forecast for the remainder of FY 2017.
The full report is for immediate release and available here.
NCSL is a bipartisan organization that serves the legislators and staffs of the states, commonwealths and territories. It provides research, technical assistance and opportunities for policymakers to exchange ideas on the most pressing state issues and is an effective and respected advocate for the interests of the states in the American federal system.