Kiplinger’s Economic Outlook for All 50 States, 2020

Low jobless rates and rising incomes are helping to fatten state coffers across the U.S.

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Low jobless rates and rising incomes are helping to fatten state coffers across the U.S. Revenue from sales, personal and corporate taxes is on the rise --the best growth since before the Great Recession.

States can expect healthy tax revenues for at least the next several quarters as low unemployment continues, incomes slowly rise, inflation increases modestly and higher energy prices generate more income for states with severance taxes.

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David Payne
Staff Economist, The Kiplinger Letter

David is both staff economist and reporter for The Kiplinger Letter, overseeing Kiplinger forecasts for the U.S. and world economies. Previously, he was senior principal economist in the Center for Forecasting and Modeling at IHS/GlobalInsight, and an economist in the Chief Economist's Office of the U.S. Department of Commerce. David has co-written weekly reports on economic conditions since 1992, and has forecasted GDP and its components since 1995, beating the Blue Chip Indicators forecasts two-thirds of the time. David is a Certified Business Economist as recognized by the National Association for Business Economics. He has two master's degrees and is ABD in economics from the University of North Carolina at Chapel Hill.