Total Revenue for Traveler Accommodation, Establishments Subject to Federal Income Tax
Percent Change
REV7211TAXABL157QNSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-4.40
Year-over-Year Change
-21.43%
Date Range
10/1/2012 - 1/1/2025
Summary
This trend measures the quarterly percent change in real state and local government tax revenue, adjusting for inflation. It provides insight into the fiscal health and revenue-generating capacity of state and local governments.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Percent Change in Real State and Local Government Tax Revenue tracks the quarterly rate of change in tax revenue collected by state and local governments, after accounting for inflation. This metric is a key indicator of the financial position and economic resilience of sub-national public sectors.
Methodology
The data is calculated by the U.S. Census Bureau based on quarterly tax revenue reports from state and local governments.
Historical Context
Economists and policymakers monitor this trend to assess the fiscal pressures facing state and local governments and inform policy decisions.
Key Facts
- Real state and local tax revenue grew 2.1% in Q4 2022.
- Tax revenue declined for 4 consecutive quarters during the COVID-19 pandemic.
- State and local governments account for over 12% of U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly percent change in real (inflation-adjusted) state and local government tax revenue in the United States.
Q: Why is this trend relevant for users or analysts?
A: The percent change in state and local tax revenue is an important indicator of the fiscal health and revenue-generating capacity of sub-national public sectors, providing insights that inform economic policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on quarterly tax revenue reports from state and local governments.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the fiscal pressures facing state and local governments and inform policy decisions related to intergovernmental fiscal relations and public finance.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Percent Change (REV7211TAXABL157QNSA), retrieved from FRED.