Stimulus could cut tax revenue in several states

03/26/2009 | Google

Some states may ultimately lose tax revenue as a result of provisions in the federal stimulus package passed last month. Many states copy federal tax code into their own, and tax breaks included in the stimulus could prove a burden to states that, unlike the federal government, are required to balance their budgets each year. "They can spend at length what they want and print more money. We can't," said David Hoyle, co-chairman of the North Carolina Senate's Finance Committee.

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