February 11, 2023

CBS News: States are Flush with Cash. It’s Setting Off ‘Tax Cut Fever.’

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Even as the U.S. economy shows signs of slowing down, many states around the U.S. are flush with cash, with their so-called rainy day fundsĀ estimatedĀ to reach a record high of $136.8 billion this fiscal year.

And lawmakers in more than half of states are responding to their new cash cushions with similar proposals: cutting taxes.

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