Bloomberg News

S&P Outlook for States Stronger Than for Local Governments

May 10, 2012

Standard & Poor’s Ratings Services said that its forecast for states is stronger than for local governments.

States are more dependent upon income taxes while local governments are more dependent on property taxes, which have not yet recovered from the drops of the past four years, the ratings service said today in statement.

The forecast is contained in S&P’s report “Sector Economic and Credit Conditions Forecast: U.S. State and Local Governments to See Gradual but Uneven Revenue Improvement.” The report was published today.

To contact the editor responsible for this story: Will Daley at

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