California and New York helped push U.S. states’ tax revenue to the first quarterly gain since 2008, the Nelson A. Rockefeller Institute of Government said.
Nassau is among the nation’s wealthiest counties -- and the richest in New York -- as measured by per capita income.
Most U.S. states cut government jobs last quarter as cities, counties and public agencies coped with falling tax revenue in the wake of the recession, a study found.
State tax collections rose 2.2 percent in the three months ended June 30, the second straight quarterly gain, the Nelson A. Rockefeller Institute of Government said in a report today.
The agreement passed by Congress to keep taxes from increasing on most U.S. workers in 2013 eases a threat to states and cities only now emerging from the fiscal crisis brought on by the eighteen-month recession.
State income-tax collections in the first quarter were the strongest since the start of the recession in 2007, according to a report by the Nelson A. Rockefeller Institute of Government.
Municipal bonds are defaulting at the slowest pace in at least five years as a growing economy lifts the most speculative corners of the $3.7 trillion market.