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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (25425)	8/14/2003 1:16:59 PM
From: RealMuLan	Read Replies (1) \| Respond to of 89467

Many states in fiscal free fall California isn’t the only place facing budget problems By Rob Reynolds CNBC HARRISBURG, Pa., Aug. 13 — Lately, California’s budget and political crises have stolen the news headlines. However, plenty of the 49 remaining states in the union are facing fiscal woes of their own. ... The crisis may only get worse. A study by the Rockefeller Institute shows state revenues fell in the April-to-June quarter for the eighth straight quarter. In Georgia, revenue collections fell 5.4 percent last month. And Texas Comptroller Carole Strayhorn says July sales tax collections in her state were down 4.6 percent compared to a year ago. And the big federal tax cuts championed by President Bush and the republican-controlled Congress will cost the states plenty. Advertisement “All three of the tax cut bills enacted at the federal level over the past three years have an adverse impact on state revenues because state personal and corporate income taxes and state estate taxes are all coupled to the federal,” Mazerov said. ... msnbc.com