Fitch’s State Ratings Chief on Inflation, Recession (Podcast)

State policy makers and budget officials are facing a period of greater economic uncertainty as forecasts increasingly point to the likelihood of at least a mild U.S. recession in 2023. Over the past year many states have sought to stay ahead of any downturn by managing their budgets more prudently.

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Roughly 30 states took some type of permanent tax policy action in 2022 through their legislatures—rate cuts for income, corporate, or both, plus some ...