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States’ Budget Pains Ease

Recovering economy boosts revenue; states Q1 saw 5.6% rise in taxes.

By William Selway and Mark Niquette, Bloomberg | Updated on February 24, 2012

For the past four years, U.S. states struggled to close more than $500 billion of budget shortfalls caused by the recession, ushering in tax increases, spending cuts and clashes with public-employee unions.

With the economy recovering, officials gathering in Washington today for the National Governors Association winter meeting are beginning to face a welcome choice: how to spend extra money.

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