State budgets

State government own-source revenue declined 2.3% in fiscal 2025 from the totals in fiscal 2024.

Michigan lawmakers must pass a 2026 budget before Oct. 1, but the Republican-controlled state House and Democratic-controlled Senate are far apart.

Analysts credited governance improvements Connecticut put in place in 2018, which have reduced the state's liabilities and improved its reserves. 

California lawmakers, who announced a deal with Gov. Gavin Newsom in June, say his administration failed to agree on loan terms ahead this week's deadline.

Gov. Michelle Lujan Grisham ordered lawmakers back into session to mitigate the impact on hospitals, Medicaid, and other programs from federal policy changes.

Several major cities are staring down budget deficits and credit downgrades as the effects of inflation and OBBBA trickles down while relationships with their states adds complexity.

The state has teed up a $21.5 billion, six-year transportation budget as it deals with the fallout from federal workforce cuts, a credit downgrade, and a feud with the Trump administration.

Special budget sessions, falling tax revenues and provisions in the One Big Beautiful Bill Act are combining with tariffs and cuts to the federal workforce to create headaches for the states.

Philadelphia's economy has been growing. But deep cuts Pennsylvania may impose on the regional public transportion system could have serious negative impacts.

Treasurer Brad Briner said the unused money was in state accounts for years.