State budgets

Washington lawmakers delivered a balanced budget after tweaking program cuts and tax increase plans multiple times.

The coming fiscal year will have more than 10 times the state bonding as the current fiscal year.

Fourteen percent of the state bills would create an electric vehicle fee, and Republicans in Congress have floated their own national EV fee to shore up the Highway Trust Fund.

State lawmakers approved a trailer bill to last year's budget that aided Medi-Cal and provided funding to local governments affected by January's wildfires.

States could face some difficult times ahead, experts say.

Congress leaves town for a two-week recess without settling a financial dispute with the District of Columbia over which budget they are allowed to use as the mayor's financial team announces plans to exercise a 2009 law that will boost a supplemental budget by 6%.

The state, which has cut income taxes with more cuts scheduled, is on a path to a greater than 10% budget deficit in three years, say the legislature's analysts.

Washington, D.C.'s ability to spend the money in its approved budget remains in doubt as a congressional recess looms, though President Trump signaled support.

Lawmakers have until late this month to decide on a mix of cuts and taxes acceptable to the governor to close a $16 billion shortfall over the next two budgets.

As the market absorbs the effects of the tariff rollout industry analysts are predicting a heavy dose of uncertainty in several key sectors of the municipal bond market.