State budgets

Denise Canada, appointed by Brad Briner to head state and local government finance, has experience working for the state's local and state governments.

Gov. Ron DeSantis wants property tax cuts and House Speaker Daniel Perez wants a sales tax cut as future state deficits are projected.

As the budget reconciliation lurches through Congress towards a vote, the cap on state and local taxes remains a key bargaining chip while data shows state tax revenue declining and an uncertain future for the pass-through-entity workarounds adopted by more than 30 states.

Lawmakers have $755 million less to spend and only six more weeks to work on the two-year budget.

The rating agency, which gave the state a positive outlook a year ago, upgraded its general obligation rating a notch to AA-plus ahead of a $25 million bond sale.

California Gov. Gavin Newsom said lowered revenues from the so-called "Trump slump" forced tough choices during annual May revisions to his budget.

The agreement includes $12.6 billion in spending for the fiscal year that begins July 1 and an income tax cut estimated to cost $160 million.

The state's legislative analyst's office expects revenues for the fiscal 2025-26 budget year to be $7.8 billion lower than estimated in January.

Amid deep cuts to public K-12 schools, the proposed budget would boost charter school investment as the administration said "more local school options are needed."

With a funding agreement in the state budget, the Metropolitan Transportation Authority is gearing up to start capital repairs — and find $3 billion of savings. 

Lawmakers are putting the final touches on the budget, and Gov. Kathy Hochul said there is broad agreement. Federal cuts may yet scramble everything.

Pew Charitable Trust outlined how governments can better prepare for natural disasters to alleviate budget pressures as these incidents have grown in frequency and severity.

The ratings agency is growing more pessimistic about the United States economy.

Ohio's governor is critical of a legislative plan to support a Cleveland Browns stadium in suburban Brook Park with $600 million of state bonds.

Falling financial dominoes started by a continuing resolution passed by Congress is leading to budget delays and the threat of a lawsuit by City Council as Washington prepares for a nearly $1.5 billion bond issuance.

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.