State budgets

Moody's Ratings revised Missouri's outlook to negative from stable, citing a large structural deficit that will push fund balances below its Aaa-rated peers.

Observers say there is a real chance that Democrats may win the governorships of Florida and Georgia, affecting the states' fiscal policies.

Market Intelligence analyst Jeff Lipton warns that as ESSER-era support fades, shifting enrollment patterns, voucher expansion, tax-cut dynamics and rising costs are exposing credit stress in parts of the K-12 sector — making security selection and disclosure discipline more important in 2026 and beyond.

The Middle East conflict sent oil prices higher, potentially benefitting energy producing states, although heightened inflation risks could hit budgets.

Massachusetts brings double-A-plus level ratings to the competitive deal, comprised of $800 million of new money bonds plus a refunding component.

Credit ratings agencies, consultants and budget analysts are beginning to calculate, costs, risks, and remedies associated with cuts to Medicaid prescribed by the One Big Beautiful Bill Act.

Illinois curently plans $3.2 billion of bond sales in FY2027 under Gov. JB Pritzker's executive budget, the Commission on Government Forecasting and Accountability said, adding additional authorization requests are expected.

President Trump's budget proposal for fiscal year 2027 includes $1.5 trillion for the military, while cutting FEMA's budget, privatizing the TSA, and increasing transportation funding.

New Hampshire's deals are always well received, according to the state treasurer. She hopes that trend holds in this week's market.

The $12.78 billion fiscal 2027 budget agreement unveiled by Republican officials comes as lawmakers prepare for looming federal Medicaid funding cuts.

A presidential address does nothing to quell the price of crude oil as states are now calculating the effects of rising fuel prices on their tax revenues.

Divisions are emerging among Missouri lawmakers over the $50.3 billion fiscal 2027 budget the House passed last Tuesday.

The tax could result in an increase in demand for the state's municipal bonds.

Guessing what may happen as Congress pounds away on a surface transportation reauthorization bill has not rattled credit ratings so far, but a key deadline could slip.

The new state income tax is expected to make Washington munis, which are exempt, more attractive for high-earning residents.

Overall rainy-day fund capacity for U.S. states fell in fiscal year 2025 for the first time since the World Financial Crisis as more states look at tapping reserves.

Pennsylvania and New Jersey built up historically strong reserves. Unwilling to raise taxes, their governors want to tap these funds.

Nebraska Gov. Jim Pillen called on state lawmakers to act after the state's 2025-27 biennium budget bill fell short of a cloture vote on Thursday.

As rising fuel prices make headlines, more states are eyeing suspending their gas tax rules while concerns rise about the beleaguered Highway Trust Fund.

Illinois returns to market with about $1.4 billion of GO bonds on Tuesday, with proceeds funding accelerated pension benefit payments and capital projects.