With the economic slump battering tax receipts, state budgets remain in dire shape, and the pain may continue into fiscal year 2012, according to the National Governors Association and National Association of State Budget Officers. In that environment, it’s no surprise that states around the country are slicing spending. One sector in which construction firms are feeling the impact is transportation.
NGA and NASBO on Nov. 12 released preliminary findings from their next biannual Fiscal Survey of the States, due out Dec. 3. Scott D. Pattison, executive director of the budget officers’ group, says for fiscal 2009 and 2010, “We are seeing the worst numbers and indicators that we’ve ever seen in terms of state fiscal conditions.”