WASHINGTON — State budgets seem to be "stabilizing and settling into a period of modest growth," but recovery from the Great Recession is still "a work in progress," the National Conference of State Legislatures concluded in a report released recently.

"Although budget gaps are rare and policymakers may have some flexibility to deal with spending overruns or other unexpected developments, there appears to be little room for major new policy initiatives," Arturo Pérez, fiscal affairs program director at NCSL, said in a news release.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.