Assessing the State and Local Sector—Where Will the Money Come from?
Sponsors: Federal Reserve Bank of Chicago, National Association of State Budget Officers and National Tax Association
State and local governments are suffering from turbulent economic conditions. Access to revenue is being challenged as slower economic conditions depress tax revenues while turmoil in the financial markets strain the ability to issue debt. Are current conditions cyclical or will structural changes in the sector be required over the near and medium term future? This conference was designed to examine structural and cyclical trends impacting state and local revenues, the role of Federal government assistance and access to capital.