North Dakota Has Best Tax Revenue Growth Since Recession
Since the 2007-2009 recession, North Dakota has the highest tax revenue growth rate in the U.S.
Lead by an oil fracking boom, North Dakota's tax revenue in 2016 showed a 37 percent increase over its peak from 2008. This, according to a report from the Pew Charitable Trusts, which was released on Thursday.
The report also says that only 27 states have exceeded pre-recession levels in tax revenue, leaving 23 states still recovering financially.
Aside from North Dakota, just six other states had revenue rebound rates greater than 15 percent: Minnesota (21.7 percent), Colorado (19.9 percent), Iowa (19.5 percent), Hawaii (17.2 percent), California (16.1 percent), and Maryland (16 percent).
The worst drop since the recession was Alaska with a 94 percent drop in tax revenue since 2008. Other states with more than a 15 percent decrease were Wyoming (31.1 percent), Louisiana (19.1 percent), Florida (17.7 percent), and Oklahoma (15.1 percent).
Source: Yahoo! News