Premium
The Distributional Politics of Fiscal Adjustment: A Case Study of Four Northeastern States
Author(s) -
Chernick Howard,
Reschovsky Andrew
Publication year - 1990
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/1540-5850.00871
Subject(s) - recession , revenue , state (computer science) , politics , divergence (linguistics) , economics , tax revenue , federal budget , economic policy , fiscal year , political science , public economics , macroeconomics , finance , law , linguistics , philosophy , algorithm , computer science
The federal Tax Reform Act of 1986 and an unexpected economic downturn soon thereafter resulted in a divergence between actual and anticipated revenues at the state level. To cope with the resulting budget deficits, states increased taxes, decreased expenditures, or both. This paper looks at the decisions made in four Northeastern States‐New York, Connecticut, New Jersey, and Massachusetts.