A new report from Pew Charitable Trusts shows tax revenues in Kentucky have rebounded to levels seen before the “Great Recession.”
The report finds that a decade after the recession ended, Kentucky, Tennessee, and Indiana are among the 45 states where tax revenue has fully recovered. “And when you look at Kentucky’s economy and population changes, for example, both have trailed the national average in recent years,” said Justin Theal, an officer with Pew.
Theal said individual tax results can differ dramatically depending on economic conditions, population differences, and tax policy changes.
Tennessee’s economy has grown the 12th fastest since the recession, and the state’s population is also increasing at a greater rate than the national trend. Indiana’s economy and population have seen slower growth rates compared to the rest of the country.