November 18, 2005
THANKS, GIPPER:
Outlook good for tax cuts by states (Dennis Cauchon, 11/17/05, USA TODAY)
Soaring state tax collections have created momentum for tax cuts in 2006, when most governors and legislators will face voters. [...]Three years of strong revenue growth have left many states with large surpluses. New Mexico is looking at a $1 billion surplus. Florida expects more than $3 billion.
Even financially troubled California took in $3.4 billion more than it spent in the budget year that ended June 30 — the state's first surplus since 2000. California's deficit was erased by a 13.2% revenue increase.
"Every month we're surprised by the good news and say it has to slow down. But it hasn't," says Arkansas Gov. Mike Huckabee, chairman of the National Governors Association. His state had record revenue in October and expects a $200 million surplus this year.
Even if you're from Arkansas or the NY Times it ought to stop being a surprise at some point. Posted by Orrin Judd at November 18, 2005 7:50 AM
I bet Paul Krugman is screaming, from the top of a mountain, in a thunderstorm.
"NOOOOOOOO!!!!!"
Posted by: Mikey at November 18, 2005 8:15 AMHow come we're still broke here in Illinois?
Posted by: jdkelly at November 18, 2005 9:06 AMjdkelly:
Perhaps your politicians are overachievers and able to loot faster than people can produce? Just a guess.
Posted by: Luciferous at November 18, 2005 9:48 AMA good guess.
Posted by: jdkelly at November 18, 2005 11:25 AMOf course, some states still want to raise taxes (NC, CO, and maybe others).
Posted by: jim hamlen at November 18, 2005 11:57 AM