The report by Citizens for Tax Justice estimates states stand to lose potentially $35 billion dollars a year in revenues by 2012. The group also reports as much as $15.2 billion would be lost through the repeal of the federal estate tax. Currently, the group says, each state gets almost 26 cents of each dollar the federal government receives from estate taxes paid by residents of that state.
The National Conference of State Legislatures report indicates the general fiscal condition of state budgets is growing weaker. End-of-the-year balances, as a percent of spending, showed decline among the 46 reporting states. According to the NCSL report, 33 states experienced decline between FY 2000 and FY 2001, and aggregate state balances decreased 22 percent, moving from $43.7 billion to $34.1 billion.
State Fiscal Outlook for FY 2002 offers a look at the fiscal condition of all 50 states, based on information collected from legislative fiscal directors in mid to late October. The comprehensive survey conducted by the National Conference of State Legislatures covers the revenue and expenditure situation through the beginning of FY 2002, state plans to address budget shortfalls and the budget forecast for the remaining fiscal year.
This report discusses the review process of ranking and rating the proposed endowed chairs for eminent scholars, as well as a brief statement of evaluation for each of the thirty-one proposed chairs.