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Thursday, April 23, 2015
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Our latest news...
After Weak Performance in the First Half of 2014, Tax Revenues Resume Growth in the Third Quarter
After two consecutive quarters of declines, total state tax collections grew 4.4 percent in the third quarter of 2014. Preliminary data for the October-December 2014 quarter suggest further strength in overall tax collections. However, the growth is not evenly distributed among individual states. Officials in oil-rich states are facing new fiscal challenges due to large drops in oil prices in recent months, and subsequently large declines in severance taxes.
Virginia Affordable Care Act Opponents Thwart Full Implementation
Researchers from The Commonwealth Institute, a leading Richmond, Virginia-based policy center, have pointed to the effectiveness of opponents of the Affordable Care Act in blocking full implementation of key provisions of the law in Virginia, despite support for broadening the state’s Medicaid program by Virginia Governor Terry McAuliffe. The Virginia report is the twenty-first baseline study completed by a 36-state network led by the Rockefeller Institute, the Brookings Institution, and the Fels Institute of Government at the University of Pennsylvania.
Growing Volatility in State Tax Revenue Is Driving Forecasting Errors
According to a new technical report released by the Nelson A. Rockefeller Institute of Government, increases in state revenue forecasting errors during the recent recession were driven by increases in revenue volatility. The report discusses how revenue forecasting errors have changed in recent years and examines the relationship between revenue forecasting accuracy and (1) tax revenue volatility, (2) timing and frequency of forecasts, and (3) forecasting institutions and processes.
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The Institute in the news...
The Times quotes Senior Fellow Donald J. Boyd on increasing government spending.
Institute Director Thomas L. Gais comments on the effects of poverty on educational performance.
Senior Fellow Richard Nathan discusses how money is influencing implementation of the Affordable Care Act.
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