State budgets

Proposals for reforming the Federal Emergency Management Agency are attracting attention from the ratings agencies.

The Save America Act remains at a chokepoint, pitting President Trump against Senate Majority Leader Thune, while counties weigh in against the measure.

With federal costs and an election on the horizon, Massachusetts, Pennsylvania and New Jersey opted for "maintenance budgets."

The ongoing dispute between the states and the Federal Emergency Management Agency is heading to court as 25 states are suing the agency over charges that it's withholding grants based on immigration policies.

In fiscal 2026, Indiana saw 6.8% year-over-year growth in state revenue amid a 27.7% surge in corporate tax revenue, leading to a surplus of $1.85 billion.

The state's Republican governor and legislative leaders ordered 3% cuts for the next biannual budget as they announced their priorities for the 2027 session.

Discretionary termination of grants allowed under the rule would pose a particular risk, issuer advocates said.

State budgets are in a state of flux due to aging populations and changes in federal spending policies that are affecting revenue and reserve funds.

The revenue shortfall has the attention of some rating agencies.

The nation's two largest crude oil producing states are reporting revenue increases in the wake of the Iran conflict, which began Feb. 28.

The budget includes plans for transportation bonds to be sold over the next few years.

The state took nearly two years to publish its fiscal 2024 annual comprehensive financial report — and that was an improvement.

While California has improved the timeliness of its audited comprehensive financial reports, Nevada continues to struggle.

The governors of two top Midwest destinations for data centers froze tax breaks for the projects as grassroots opposition groups begin building coalitions.

Illinois released its 2025 Annual Comprehensive Financial Report last week, completing the report nearly eight months earlier than its 2024 ACFR.

Market Intelligence analyst Jeff Lipton explains why constrained state budgets should not be mistaken for broad credit deterioration, pointing to rainy-day funds, revenue diversity, low debt burdens and strong debt-service protections as key stabilizers.

Cameron Hamilton, the current nominee to head up the Federal Emergency Management Agency, responded to accusations of political bias during a Senate hearing on Wednesday.

For the first time since 2023, Georgia will bring its general obligation bonds to the municipal bond market, with a $1.57 billion competitive deal.

Ohio Gov. Mike DeWine on Monday signed the state's $3.7 billion FY2027-28 capital budget, lauding the budget's breadth and impact on ordinary Ohioans.

Budget legislation was introduced in both houses of the California legislature last week, setting up negotiations.