Government finance

Only nine states reported making midyear budget cuts totaling $830 million this year compared to 22 states that cut $3.5 billion in 2017.

States could gain $8 billion to $33.9 billion in additional annual revenue if the high court rules in favor of South Dakota, while a loss would mean the status quo.

Two town officials also received civil penalties totaling $35,000 and were ordered to resign and be temporarily barred from employment with Ramapo, N.Y.

Senate and House Appropriations Committees appropriate more funds for certain transportation and housing programs after the president sought cuts to or elimination of the programs.

Tax administrators will consult with governors and governors, in turn, will consult with their legislatures before responding to any of several possible rulings in the case by the high court, officials said.

Any change to the spending flexibility among governmental units that results from the court decision is likely to be incremental, according to Fitch.

S&P said a state law de-annexing a major portion of one city to create another may affect all of its Georgia municipal rating assessments.

Currently at least 33 states provide 113 different tax credits that are already federally deductible.

The IRS has produced dozens of "issue snapshots" for the tax-exempt bond community, charities and non-profits, retirement plans, Indian tribal governments and federal, state and local governments.

A city job training proposal will no longer use bond proceeds due to concerns about legality.