States See Revenues Surge From Income Tax and Federal Aid

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Numerous states have seen their state revenue surge in 2021 fueled by a robust stock market, growing income, federal aid, and increased tax revenue, The Wall Street Journal reported.

States’ revenue soared 24% between April and November from 2020 to 2021, according to a survey conducted by the Urban Institute think tank, the WSJ reported. Thirty-two states said the revenue collected in the fiscal year ending in 2022 was ahead of expectations, according to data from the National Association of State Budget Officers obtained by the WSJ.


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