By:
Pamela M. Prah Stateline
Like an American tourist in Europe, states are seeing their dollars just don’t go as far as they used to.
Not only was the amount of tax revenue states collected during the fourth quarter of 2007 the weakest in almost five years, but for the first time since the 1990s, inflation for state and local governments grew substantially faster than for the economy as a whole, according to new data released Monday (March 31) from the Nelson Rockefeller Institute of Government, the public policy research arm of the State University of New York.
