State Budget Crisis Task Force

The Task Force on the State Budget Crisis, co-chaired by former New York Lieutenant Governor Richard Ravitch and former Federal Reserve Board chairman Paul Volcker, is a project of the Research Foundation of the City University of New York. The Task Force has been funded by a consortium of major foundations for the purpose of analyzing and clarifying the fiscal crisis currently faced by the states of the United States. It will examine the finances of at least five states in detail—their budget, taxation, and debt practices; their revenues, expenditures, and short-term and long-term liabilities; and areas in which the states face particular pressures, including public pensions, infrastructure needs, and Medicaid.