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July, No. 264b

On May 12, 2009, the Federal Reserve Bank of Chicago, the National Association of State Budget Officers and the National Tax Association co-sponsored a conference to examine key issues facing state and local governments, with a focus on factors that may affect their current and future revenues.

Last Updated: 06/26/2009

Assessing the State and Local Sector—Where Will the Money Come from?: A Conference Summary

Rick Mattoon

Governors and mayors across the country have been reporting bleak fiscal conditions. With all major tax sources declining and expenditure demands for health care and education rising, state and local government leaders are being confronted with very hard choices. The conference brought together over 100 leaders from government, business and academia to discuss key issues for the state and local sector, including structural and cyclical trends affecting revenues, the role of federal government assistance and access to capital.