Standard & Poor’s has released a credit conditions forecast that is more positive for states than for localities.

“Our outlook for the national economy is more favorable to state governments than it is for local governments to the extent that the former tend to rely more on income taxes, and the latter depend more on property taxes,” credit analyst Gabriel Petek wrote in the report, “Sector Economic and Credit Conditions Forecast: U.S. State and Local Governments to See Gradual but Uneven Revenue Improvement.” Petek is the lead author.

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