Deficits

The nation's second-most-populous county faces “difficult choices," board President Toni Preckwinkle said.

Gov. John Bel Edwards objected to a spending plan that would impose cuts of more than 24% on most state agencies.

Gov. John Bel Edwards has called lawmakers to the capitol on May 22 to deal with the budget deficit.

Chicago suburb warns of "catastrophic” impact of state withholding funds.

The state’s net position of governmental activities eroded by $10.1 billion to reach a negative $141.7 billion.

With lawmakers failing to address a $1 billion budget deficit, S&P said “uncertainty about fiscal 2019 now looms over Louisiana.”

After failing to approve new revenue in a special session, lawmakers now must pass a fiscal 2019 budget without enough revenue to fund state priorities.

The state House approved a $22.5 billion general fund budget that relies on fees and tax increases to fund priorities like pension obligations.

Gov. John Bel Edwards called a special session for Feb. 19 in attempt to end a partisan stalemate that has stymied fiscal reform efforts for two years.

The stakes are high with two of the state’s general obligation ratings one notch away from speculative grade.