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States Are Swimming in Cash Thanks to Booming Tax Revenue and Federal Aid
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Numerous states are proposing tax rebates and bonuses for public workers as the fiscal doldrums of early 2021 give way to fat times fueled by booming markets, growing incomes and federal aid.
State revenues between April and November increased 24% from 2020 to 2021, according to a survey conducted by the Urban Institute think tank. Thirty-two states said revenue collections for fiscal years ending in 2022 were ahead of projections, according to the National Association of State Budget Officers, including South Carolina, Minnesota and Washington.
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