JEFFERSON CITY, Mo. (AP) — After a couple years of robust tax collections, states across the U.S. are better prepared than ever to weather a potential recession, according to a report released Monday that examines states’ savings.

The good news in the report from Moody’s Analytics is tempered by the reality that one-fifth of all states still have nowhere near enough money set aside to survive a recession without resorting to spending cuts or tax hikes. And some states with healthy surpluses haven’t specifically designated them for rainy day funds, meaning lawmakers and governors still could spend the money before a recession occurs.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.