Southwest

In his first state-of-the-state address Gov. Doug Ducey promised to work with legislators to cover a $1 billion budget deficit but said he was "not persuaded by appeals to raise taxes so we can spend more."

Utah should have $14 billion to apply to its fiscal year 2016 budget, according to Gov. Gary Herbert. That represents a 5.3% increase from the current spending plan.

Local governments and school districts in the major oil and gas producing regions of Texas could suffer economically if the price of crude remains at its current lows, according to Fitch Ratings.

New Mexico Gov. Susana Martinez proposed a $6.29 billion budget that would increase spending by 2.3% in the coming fiscal year.

Texas' new leaders will have more money to work with as the 2015 Legislature begins work on the state's next budget. The higher official revenue projections come even as the slumping price of oil casts a shadow over the Lone Star State's economy.

Standard & Poor's has revised its outlook to stable from negative on Glendale, Ariz.'s BBB-plus credit general obligation rating as the Phoenix suburb prepares to issue $294 million of refunding bonds.

With the state House and Senate controlled by different parties, the Colorado General Assembly has begun the process of dividing up an estimated $1.05 billion of additional revenue for the next fiscal year.

The University of Colorado will bring $89.3 million of refunding bonds to market as opportunities for interest-rate savings continue.

Texas' new comptroller, Glenn Hegar, started his term on a positive note, reporting a 4.3% increase in sales tax revenue.

In the opening session of the Oklahoma Legislature, House Speaker Jeff Hickman calls for sacrifice from state employees and recipients of state services as revenue falls 4.1%.