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Report: US States' Lagging Revenue, Tax Reform Weigh on Credit Quality

from Reuters via U.S. News & World Report

Slow revenue growth and challenges from the recent U.S. tax reform are hurting many U.S. states' credit quality, said global investment management firm Conning as it issued a negative outlook for the sector for the rest of 2018. Revenues are largely trending below expenditures and U.S. gross domestic product, leading to shrinking reserves for many governments, Conning said in its "State of the States" report. more

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