Budgets

New York’s first late budget in seven years will not impact the state’s owed bond payments, according to Moody’s Investors Service.

Distressed local governments struggling under the weight of pension, healthcare, and other debts could turn to a special authority for fiscal guidance under legislation before Illinois lawmakers.

Market participants are increasingly contemplating the impact of Illinois potentially losing its investment-grade ratings.

A $217.7 billion budget that would require more local revenue for school funding won unanimous approval from the Texas Senate. The budget must now be reconciled with the House version.