COLUMBUS, Ind. — Because of revenue shortfalls, 19 states cut more than $2.8 billion from their budgets in 2016. Economists say 19 is an alarming number during an economic recovery.
Indiana has reported lower than budget tax revenue for 2016. In Ohio, Governor John Kasich has warned legislators that declining revenue could signal a recession. The state of Iowa says they’ll have to cut about $100 million out their next budget to stay out of the red.
For 2017, there are 24 states reporting general fund revenues lower than projections, the highest number since fiscal year 2010.
