According to a new budget survey, while growing revenues should allow U.S. states to increase their 2006 revenue surpluses by nearly 25 percent, to about $57 billion, that figure will shrink in the upcoming fiscal year -- which began for most states on July 1. The conference said that by year's end, the aggregate surplus would be reduced by nearly 30 percent, shrinking to about $40 billion -- much of that drop due to the uncertainty of tax collections.
For the 2007 fiscal year, the 49 states that responded to the National Conference of State Legislatures survey expected revenues to grow 3 percent above 2006, while they anticipated general fund expenditures will grow 7.6 percent.
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