States Prepare for Financial Strain as Trump’s Tax and Spending Legislation Takes Effect
States across the U.S. are preparing for anticipated challenges due to recent changes in federal tax and spending policies enacted during the Trump administration. As governors and state lawmakers assess the implications of the new law, many are voicing concerns about the strain it may place on their budgets and public services. New tax cuts and expenditures have the potential to alter the fiscal landscape for numerous states. Many leaders are worried that the law could lead to a shortfall in state revenues, compelling them to make difficult decisions regarding funding for essential services, including … Read more