Gov. Katie Hobbs' proposed fiscal 2025 budget calls for agency fund sweeps, a new eligibility requirement for a costlier-than-expected universal school voucher program, and other measures to combat a rising shortfall.

The Republican governor is trying once again to focus lawmakers' attention on cutting income taxes during a special session set to begin Jan. 29.

Increasing the costs for banks to hold municipal bonds would be passed down to cities and states in the form of higher financing costs, industry advocates said.

Gov. Phil Murphy signed a bill amending the state's Local Bond Law to extend the period of usefulness of new emergency equipment from 10 years to 20 years.

"Some have called on us to use our rainy-day fund to cover asylum seeker needs. We do not agree and neither do our city and state comptrollers as well as the bond rating agencies and fiscal experts," said NYC Mayor Eric Adams.

"I believe policy is set properly," Waller said. "It is restrictive and should continue to put downward pressure on demand to allow us to continue to see moderate inflation readings."

In its take on the governor's proposed budget, the Legislative Analyst's Office lowered its own deficit projection, but called the governor's revenue projections "optimistic."

The 2025 state budget would provided $2.4 billion to New York City to pay for the costs of caring for a rising influx of migrants, which includes taking $500 million from reserves.

As double-digit revenue growth comes to an end, Southwest governors are crafting budgets to deal with the new normal.

The shortfall Gavin Newsom says his budget must close is $30 billion less than the deficit forecast by the Legislative Analyst's Office in November.

The D.C.-area agency, unique among mass transit systems in that it has no dedicated operating funding, faces the same challenges as other transit agencies: fewer riders and federal support.

A January 29th IRS deadline could spur tax legislation

Roughly 70% of the grants will go to projects in disadvantaged areas.

John Williams, who also serves as vice chair of the Federal Open Market Committee, does not expect the Federal Reserve to slow its balance sheet runoff anytime soon.

"It is a torpedo into one of the safest, most secure pension systems in the United States, if not the world," said North Carolina Treasurer Dale Folwell.

John Fleming, a four-term congressman and former Trump administration official, took office as state treasurer. Jeff Landry of the GOP was sworn in as governor.

The Senate Budget Committee gave municipal bonds center stage Wednesday.

The Fed, financial markets, the upcoming election and AI took center stage on at the Executives' Club of Chicago's Annual Economic Outlook panel.

A 2023 state law gave legislative leaders four appointments to the six-member turnpike board as lawmakers sought to reform the agency in the wake of a controversial, bond-financed expansion project.

The governor proposed state funding for schools to slow the rise in property taxes. His Idaho Works program would provide $50 million toward $800 million in bonds to pay for water and transportation projects.