Weakening revenues should be a red flag for states, particularly those planning tax cuts, said Lucy Dadayan of the Urban Institute's Tax Policy Center.

The state-supported deal with Ørsted for a $1.6 billion wind farm off of Atlantic City's Coast is awaiting federal Record of Decision this summer.

Inflation joined supply chain struggles, wage pressures, and the labor shortage — most acutely felt with nursing staff — dragging down the sector's margins.

Austin planned to use property taxes approved by voters in 2020 to pay off bonds for the project.

The new law's uncertain impact on cities and states has been a hot topic at the GFOA's annual conference this week.

Gov. Brian Kemp announced projects that will receive $225 million in funds from a program created under the American Rescue Plan Act.

Arizona, Nevada and California announced an agreement on Colorado River water use reductions, possibly averting a more stringent federal solution.

Public sector employers are in a fierce competition with the private sector for workers and may be losing amid labor shortages and inflation.

"If the banking stresses start to bring inflation down for us, then maybe we're getting closer to being done. I just don't know right now," said Federal Reserve Bank of Minneapolis President Neel Kashkari.

When it comes to federal funds flowing to cities and states, top issues to watch are a potential claw back of stimulus aid, fresh infrastructure fund opportunities and guidance on first-of-its-kind tax credits.