State budgets

A group of Democratic states as well as a national association representing not-for-profit organizations said they would sue to block the move.

The president suggested federal aid could be sent directly to states instead of through FEMA.

Gov. Joe Lombardo replaced his budget chief as the legislature's Democratic leaders criticized the Republican for submitting an out-of-balance budget.

The Maryland Department of Transportation moves to shore up its debt service while funding bridge repairs, airport modernization, and rail improvements with a $21.2 billion budget commitment.

The state House and Senate announced their spending plans for the upcoming biennium, including funding to continue and increase 2023's state-funded tax cut.

While Texas is forecasting a big budget balance, fiscal boom times are ebbing for it and other Southwest states amid tax cuts and depleted federal funding.

While the new tax policies should address the state's projected deficit, rating agencies are cautious about the projected revenues and federal spending on Medicaid, which could impact Louisiana.

Because of the disaster, income tax filing deadlines for Los Angeles County residents will be delayed to October, muddying the revenue picture for the state.

The state comptroller forecasts a $23.8 billion budget balance at the start of fiscal 2026-27, down from a record $39.4 billion for fiscal 2024-25.

Gov. Gavin Newsom's proposed $322.2 billion budget includes a $228.9 billion general fund, $16.9 billion in reserves and no plans to raise taxes.

Governor Wes Moore of Maryland opened the state's General Assembly with a challenge to cut $2 billion of a $3 billion overall shortage as a new administration in Washington ups the stakes by eyeing a rollback of climate change funding.

California's revenue windfall good budget fortune could go sideways if President-elect Donald Trump torpedoes social programs, Gavin Newsom said Monday.

Kotek has spent the past month working on a very busy agenda involving housing, fires, transportation and construction labor agreements.

The budgeting constraints transformed the state's finances and bond ratings. But critics say the policy's downsides include the stifling of needed investments. 

A bipartisan agreement on a continuing resolution to keep the government open fell apart after intervention from President-elect Trump and Elon Musk, raising concerns about federal funds flowing to states, local governments, and infrastructure projects.

A spike in inflationary costs means a tough road ahead for Washington lawmakers as they take up the budget in the new year.

Federal funds flowing from the American Rescue Plan Act must be obligated by Dec. 31 as the threat of a clawback looms as a possibility.

Overall state and local government credit conditions will remain neutral, Fitch Ratings says, though some storm clouds may be on the horizon.

Political change in Washington and the looming budget battle is raising anxiety in state legislatures.

The rating agency cited an easing of the state's fiscal challenges for lifting the outlook on the state's Aa2 rating to stable from negative.