Figure 3: Changes in State and Local Government Current Tax Receipts during National Recessions, 1973 through 2010

    This image is excerpted from a U.S. GAO report: www.gao.gov/products/GAO-11-401

    Note: Quarter 0 denotes the peak of an NBER business cycle. The number of quarters shown for each recession represents the amount of time needed for tax receipts to return to or surpass their levels at the beginning of the recession period (NBER business cycle peak). For the 2007 recession, receipts have yet to return to their peak levels. The levels of state and local current tax receipts for each recession are indexed to their levels at the beginning of the recession period. Current tax receipts are tax revenues received by these governments from all sources.

    Comments and faves

    keyboard shortcuts: ← previous photo → next photo L view in light box F favorite < scroll film strip left > scroll film strip right ? show all shortcuts