The Reform of General Revenue Sharing

摘要

The report considers principal policy issues in terms of their relation to the New Federalism, resource allocation, inflation, incentives, and distribution of income. The study also examines the effects of inflation on the state-local fiscal policies and its resulting implications for General Revenue Sharing (GRS). The research findings relate to possible changes in the interstate and substate allocation formulae and the possibilities of building new types of incentives into GRS. Extensive references to the report are provided.