Fiscal & Economic Policy

State and local governments have seen an uptick in retirement rates among baby boomers and other older people who make up a large segment of their workforce, and this development could have major implications as policymakers consider changes to benefit programs for public workers. Read More

Research by Pew has found that even in states with the agencies’ highest rating (triple-A), policymakers often are unsure about how best to manage their rainy day funds to earn or keep high credit ratings. As a result, some state officials are reluctant to tap reserves even during recessions for fear of a ratings downgrade. Read More

Fiscal 50: State Trends and Analysis, an interactive resource from The Pew Charitable Trusts, allows you to sort and analyze data on key fiscal, economic, and demographic trends in the 50 states and understand their impact on states’ fiscal health. Read More

Growth in total state tax revenue stalled in the third quarter of 2016, extending a rare drop in tax collections outside of a recession. Even so, more than seven years after the end of the Great Recession, receipts nationally and in 31 states have risen enough to recover from losses in the downturn, after accounting for inflation. Read More

One of the longest U.S. economic expansions has lifted personal income in all states above pre-recession levels. But growth has varied, ranging from a constant annual rate of 0.8 percent in Illinois and Nevada to 4.5 percent in North Dakota. In the fourth quarter of 2016, year-over-year personal income growth weakened to the slowest pace in three years, due partly to ongoing weakness in energy... Read More

State and local governments have seen an uptick in retirement rates among baby boomers and other older people who make up a large segment of their workforce, and this development could have major implications as policymakers consider changes to benefit programs for public workers. Read More

Research by Pew has found that even in states with the agencies’ highest rating (triple-A), policymakers often are unsure about how best to manage their rainy day funds to earn or keep high credit ratings. As a result, some state officials are reluctant to tap reserves even during recessions for fear of a ratings downgrade. Read More

Growth in total state tax revenue stalled in the third quarter of 2016, extending a rare drop in tax collections outside of a recession. Even so, more than seven years after the end of the Great Recession, receipts nationally and in 31 states have risen enough to recover from losses in the downturn, after accounting for inflation. Read More

One of the longest U.S. economic expansions has lifted personal income in all states above pre-recession levels. But growth has varied, ranging from a constant annual rate of 0.8 percent in Illinois and Nevada to 4.5 percent in North Dakota. In the fourth quarter of 2016, year-over-year personal income growth weakened to the slowest pace in three years, due partly to ongoing weakness in energy... Read More

Pew’s Fiscal 50: State Trends and Analysis presents 50-state data on key fiscal, economic, and demographic indicators and analyzes their impact on states’ long-term fiscal health. Drill down into state finances in five core areas. Read More

WASHINGTON--More than half of U.S. states have processes to regularly evaluate their economic development tax incentives, according to a new report from The Pew Charitable Trusts. How States are Improving Tax Incentives for Jobs and Growth: A national assessment of evaluation practices examines the progress that the 50 states and the District of Columbia have made to produce high-quality... Read More

Many states struggle with when and how to make withdrawals from their rainy day funds, a situation that can lead to poorly timed use of these reserve accounts, according to a report by The Pew Charitable Trusts. Read More

WASHINGTON—A new report by The Pew Charitable Trusts examining investments by the 73 largest state public pension funds finds that a shift to more complex investments has significantly increased fees, volatility, and potential losses. The analysis also estimates that $4 billion in investment fees are unreported each year. Read More

Two significant things happen every April: Income taxes are due and high school seniors, bound for college, decide where they want to continue their education. Read More

On October 25, 2016, Moody’s Investors Service downgraded New Mexico’s $327 million in outstanding general obligation bonds from Aaa to Aa1. Credit analysts explained that the rating was lowered because the state’s general fund reserves were depleted but emphasized that a rating upgrade is possible if the reserves are restored once revenue returns to normal. Read More

Fiscal 50: State Trends and Analysis, an interactive resource from The Pew Charitable Trusts, allows you to sort and analyze data on key fiscal, economic, and demographic trends in the 50 states and understand their impact on states’ fiscal health. Read More

In this animated video, learn about the Results First Initiative, which, since 2011, has partnered with states and counties across the country to help them incorporate the use of evidence in their budgeting and policymaking processes—helping to improve outcomes and make the most of limited resources. Read More

Taxes are the largest source of state government funding, making up almost half of combined state revenue. Most states obtain the bulk of their tax revenue from levies on personal income and sales of goods and services. Broad-based personal income taxes comprise the greatest share of tax revenue in 29 of the 41 states that impose them, with the highest share—69.1 percent—in Oregon.... Read More

All dollar figures in millions. Parentheses indicate negative value. States attain positive amortization if they contribute more than 100 percent of the amortizationbenchmark. Data in 2014 reflect reporting under new accounting standards. Pension debt represents the net pension liability under the new GASB rules. The value ofplan assets is reported as net plan position. The funded ratio data for... Read More

Taxes and federal funds together account for more than three-quarters of the 50 states’ revenue dollars. In all but two states taxes are the largest revenue source, while federal funds are the second largest. Following is a breakdown of each state’s major categories of revenue, with percentages shown for taxes and federal funds. Read More