THE STATES: Nibbles by the Million

While the U.S. taxpayer goes through the $77 billion tax bite necessary to feed the new federal budget, he stands to be nibbled by piranha attacks of increased state taxes. Combined budgets of U.S. Governors as 46 legislatures convene this year*to consider fiscal matters: more than $17 billion, an increase over current expenditures of about $1 billion.

The bulk of state funds will go for the requirements of an exploding population: schools, mental hospitals, highways, new buildings, welfare—and interest costs on bond issues floated to pay for major projects already begun. Much of the increase will go to take care...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!