April 11, 2008

State Revenues Are Near a 5-Year Low, Report Says

By SARA HEBEL

There's more bad news for colleges already bracing for potential state budget cuts in an economic report released last week by the State University of New York's Nelson A. Rockefeller Institute of Government.

The report found that state tax revenues continued to weaken during the fourth quarter of 2007, which ran from October through December, while costs facing states and their local governments rose sharply. When the effects of inflation and changes in tax policies are factored in,

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