Bush Dividend Tax Cut Deepens Deficit-Ridden State Budgets
by Guest Blogger, 1/28/2003
Far from providing desperately needed financial assistance to the states, Bush’s tax cut package would actually drain more than $4 billion from state treasuries each year. Take a look at what just his $364 billion dividend tax cut would do to your state. State: Est. FY 2004 Budget Shortfall ($millions): Bush Dividend Tax Cut Will Cost(FY 2004 est. in $millions): Notes: Source, State FY 2004 budget data: "State Budget Deficits for Fiscal Year 2004 Are Huge And Growing," Iris Lav and Nicholas Johnson, Center on Budget and Policy Priorities (CBPP), January 23, 2003. Source, Impact of Bush dividend tax cut: "Bush "Growth Plan" Would Worsen State Budget Crises,", Iris Lav, CBPP, January 16, 2003.