This paper pulls from a variety of data sources to estimate the positive and negative impacts of federal policies on state and local finances. For 2004, it finds that a positive federal policy impact of $467 billion is offset by at least $153 billion in negative impacts, representing a one-third...

The authors say many states have structural deficits because they have failed to modernize their revenue systems; they suggest steps that states can take to shore up their tax systems. Those steps include taxing services and requiring combined reporting, the authors says

The authors compare a proposed expenditure limit initiative in Ohio with Colorado's limit. Both are too restrictive, they say. Tax and expenditure limits make it difficult for policymakers to make necessary decisions, the authors say. Other states' limits are less restrictive