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Chicago Fed Letter, No. 351, 2016
Improving Transparency and Accountability in State Budgeting
On December 7, 2015, the Volcker Alliance, the Institute of Government and Public Affairs at the University of Illinois and the Federal Reserve Bank of Chicago held a conference examining ways to increase transparency and accountability in state (and local) budgeting. Based on research presented at the conference, the main speakers recommended budgetary principles and practices that, if adopted, would improve public understanding of the true nature, cost and consequences of states’ tax policies and spending commitments.
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