Tax Foundation: Federal Tax Cuts Effect on State Budgets

The Tax Foundation issued a report on 22 November 2010 on a timely topic: How Would Expiration of Bush-Era Tax Cuts Affect State and Local Budgets? (Special Report 187). The report includes a state-by-state chart of how states would be directly affected.

Stateline.org discusses the report in detail in their article Uncertainty of Bush-era tax cuts leaves states in budget limbo, 22 November 2010. From the article:

The Tax Foundation says that those state income tax systems that piggyback off federal income taxes will see an automatic uptick in revenue if the Bush tax cuts expire. But a handful of states that allow taxpayers to deduct for federal income taxes paid will likely see a revenue loss.