State Finances for 2018

On February 25, 2020 the US Census Bureau released data on state finances for FY 2018 here and here, including spending and revenue for each individual state and for all states combined.

On April 1, 2020 we updated state and local spending and revenue data for FY2018 through FY2025 as follows:

1. We replaced "guesstimated" state spending and revenue data for FY2018 using the new FY2018 data from the Census Bureau.
2. We replaced "guesstimated" local spending and revenue data for FY 2018 with estimates for each spending and revenue category using the trends in state finances between FY 2017 and FY 2018.
3. We replaced "guesstimated" state revenue data for FY 2019 with data from the Census Bureau's quarterly state tax summary here.
4. We replaced "guesstimated" local revenue data for FY 2019 with estimates for each category using trends for each category of state revenue between FY 2017 and FY 2018.
5. We replaced "guesstimated" state and local spending and revenue for FY 2019 thru FY2025 with new guesstimates based on the latest Census Bureau data for FY 2018 state finances and FY 2019 quarterly tax data.

State Finances for FY2018
Estimate vs. Actual

$ billion	Guesstimate	Actual
Spending	$1,839	$1,849
Revenue	$1,963	$1,943

We expect the Census Bureau to release local spending and revenue data for FY 2018 not earlier than Summer 2020.