"It's inevitable there will be spending cuts," said Emily Brock, federal liaison for the Government Finance Officers Association.

The Senate Committee on Homeland Security and Governmental Affairs unanimously passed the bill in October.

The Municipal Securities Rulemaking Board is coming under fire from broker-dealer and municipal advisor groups for what those groups see as an opaque process.

Fitch Ratings said the trajectory of the city's AA rating could depend on how Mayor John Whitmire, who took office this week, resolves the years-long impasse over firefighter pay.

A new proposal would establish a fund for maintenance while precluding new bond issuance.

The climate rule aimed at cutting transportation-related greenhouse gas emissions will restrict investment in certain projects, said the states.

The cost of empowerment scholarship accounts, which became universally available in 2022, has exceeded projections and raised concerns about how money is spent.

Arbitrage is in play, IRS budget boost is uncertain, stepped-up enforcement concerns remain

"There is no doubt that inflation has had an impact. It's important that we continue to ensure that everyone working in New Jersey has access to a livable wage," said Gov. Phil Murphy.

Illinois saw an uptick in its financial fortunes during the past fiscal year, one of the few times the state's net position has improved in recent years.