. Describe the primary sources of revenues that the States rely on, noting if they are progressive, regressive or proportional (explaining each). How has each source been impacted by the current crisis, and what should policy makers do to address the shortfall in receipts that is likely to occur in the upcoming fiscal years?
(1) TAX = EXP. From day one of this class, we discussed how the study of State and Local finance is inherently different from the issues addressed by Federal Government in their respective budgets. The first article below is a great example of the fiscal choices that State/Local governments make. How States and localities will […]