Budgets

Although Hawaii lawmakers nixed his proposed tourist tax, Gov. Green points to positives.

While fiscal 2023 and 2024 budgets remain balanced, outyear gaps increase to $4.2 billion, $6.0 billion and $7.0 billion in fiscal 2025 through 2027, respectively.

Secretary of Transportation Pete Buttigieg appeared before the House Appropriations Committee to warn of serious consequences of budget cuts.

The proposed budget would add 400 more police officers and spend $1.3 billion on programs to ease homelessness.

"If banks become even more reluctant to make new loans, the likelihood of a recession grows," says New York City Comptroller Brad Lander.

Mayor Eric Adams executive budget "will be released in just 51 days, giving us limited time to marshal the substantial resources we will need to stay balanced in fiscal 2023 and 2024," said OMB Director Jacques Jiha.

Mayor Mike Duggan proposed a budget that includes the resumption of general fund pension contributions, meeting a timetable set in the city's bankruptcy exit.

High turnover rates in key government positions make it hard for the town of Wellfleet, Massachusetts, to stabilize its finances, a state report said.

A panel that includes public finance professionals is tasked with finding fiscal and operational solutions for the transit systems, which face a fiscal cliff.

New York State Comptroller Thomas DiNapoli talks with Chip Barnett about his proposal for an amendment to the state constitution to limit backdoor borrowing by agencies and give voters a bigger say on bond issuance. (25 minutes)

Gov. J.B. Priztker touted the state's fiscal progress in his combined budget and state of the state speech.

Detroit raised its fiscal 2023 and 2024 revenue projections but is proceeding with caution as a potential recession could put a dent in collections and pressures loom as pension payments resume.

Louisa Chafee is senior vice president for external relations and public policy at the UJA-Federation of New York, the largest local Jewish philanthropy organization in the world.

Energy production taxes slowed or fell last month, with the oil tax generating $486 million, which was 14% higher than in January 2022, and natural gas tax revenue falling 13% at $322 million.

While the legislation heading to Gov. J.B. Pritzker's desk will not affect CPS' rating in the short-term, the district's ability to manage labor conflict could affect credit quality over time, Fitch said.

"The overall tone of the budget is one of prudency, which is correct during this current period where federal pandemic aid is winding down and there are questions about whether we enter into a recession," said Howard Cure of Evercore Wealth Management.

Daniella Levine Cava, Mayor of Miami-Dade County, Florida, talks with Chip Barnett about the county's robust economy as it recovers from the COVID-19 pandemic. She talks about how the seaport and airport are booming and looks at some challenges ahead such as environmental and housing issues. Taped live in Miami on Dec. 7. (10 minutes)

Expanded use of stimulus funds, fully funded water infrastructure grant programs and housing assistance are among the asks from League of Cities as Congress crafts a 2023 spending package.

After an error in property valuation led to a $10.3 million revenue shortfall, Pearland, Texas, officials approved plans to restructure debt and help balance its fiscal 2023 budget.

The White House has asked for an additional $37.3 billion to send to states and communities that faced natural disasters last year, including $600 million to Jackson, Mississippi, for its water crisis.