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Free Content Term limits and state budgets

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Term limits reduce the time horizon over which elected officials can capture and allocate government budgets, which reduces their incentive to increase government spending. An examination of US state government budgets before and after the implementation of term limits shows that prior to the implementation of term limits, state revenues and expenditures tended to grow at about the same rate in states that implemented term limits and those that did not. After the implementation of term limits, revenues and expenditures grew more slowly in states that implemented them. The reduction in the growth of state budgets after the implementation of term limits is both economically and statistically significant.
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Keywords: GOVERNMENT EXPENDITURES; GOVERNMENT GROWTH; STATE BUDGETS; TERM LIMITS

Document Type: Research Article

Publication date: April, 2019

This article was made available online on March 27, 2019 as a Fast Track article with title: "Term limits and state budgets".

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