Raising State Revenues a Bipartisan Cause

“About a dozen states—including several led by Republican governors—are considering significant tax increases this year, despite the success of antitax conservatives in the 2014 elections,” according to the Wall Street Journal.

“State revenues generally have returned to prerecession levels, adjusted for inflation. But a number of governors and legislatures are wrestling with how to address growing demands for services in areas of the budget that were squeezed during the downturn. Proposals for tax increases are proliferating, in particular, efforts to fund transportation and education.”

“Lawmakers in several states are seeking ways to make up for revenue disappointments. Louisiana is among the states that face serious budget shortfalls due to a loss of oil-tax revenue. But several states that aren’t dependent on energy revenue also have come up short of forecasts.”

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