Washington

Washington lawmakers delivered a balanced budget after tweaking program cuts and tax increase plans multiple times.

Both states' governors said they will appeal the FEMA denials, which comes amid concern the Trump adminstration is hobbling the emergency response agency.

Districts most vulnerable to cuts in federal programs are those already struggling from enrollment declines and other challenges.

Lawmakers have until late this month to decide on a mix of cuts and taxes acceptable to the governor to close a $16 billion shortfall over the next two budgets.

Washington Gov. Bob Ferguson told lawmakers approving an unsustainable budget would put bond ratings at risk.

Washington's latest official state revenue forecast lopped almost $900 million from projected collections over the next four years.

Issuance in the Far West was up 30.8% year-over-year to $98.9 billion. Muni market observers say issuers tried to beat the uncertainties of the election.

The change, which marked a move away from recent norms, was made since President Donald Trump took office on Jan. 20, the people told Reuters.

The muni market saw $507.585 billion of debt issued in 2024, up 31.8% from $385.061 in 2023. This surpasses the previous record of $484.601 billion in 2020 by more than $20 billion, per LSEG data.

In Jim McIntire's two terms as state treasurer, he sought to broaden the retail reach of state bond sales and advocated a lower state debt limit.