State budgets

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.

The law cuts the individual income tax rate to 3% by calendar year 2030, with triggers that may drive future annual decreases until it ultimately falls to zero.

Washington Gov. Bob Ferguson told lawmakers approving an unsustainable budget would put bond ratings at risk.

As Chicago transit agencies and Illinois lawmakers near a deadline to fix a transit budget shortfall of about $770 million, some are calling for a services tax.

Lawmakers have proposed record high spending but left key needs unfunded, the Citizens Budget Commission warns as the state misses its April 1 deadline.

Legislation addressed expanding water supply, paying for flood damage, financing for capital projects, as well as a fiscal 2026 spending plan.

California's High Speed Rail Authority has until June 2026 to figure out how to close a $7 billion budget hole, said the LAO's principal fiscal and policy analyst at a budget hearing.

Washington's latest official state revenue forecast lopped almost $900 million from projected collections over the next four years.

A $1.1 billion dollar cut to the Washington, D.C., budget by way of Congressional action is on hold thanks to intensive lobbying and an intervention by the Senate as the city vows to meet its financial obligations.

The state is trying to navigate its way to a fiscal 2026 budget amid potential federal policy changes and the heightened risk of a recession.

Bond-issuing infrastructure districts and development zones were a focus of legislation passed by Utah lawmakers during a session that ended March 7.

The Tax Policy Center examined which cities and states would be the most affected if Congress eliminates the tax exemption.

Alaska, California, Hawaii, Washington, Louisiana and New York have the worst-performing, least cost-effective roads and bridges, according to Reason Foundation's latest report.

Maryland lawmakers proposed a new tax on business-to-business transactions to close a $3 billion budget gap amid the firing of thousands of federal employees.

Gov. Phil Murphy highlighted pensions and fiscal responsibility in his budget address. 

Glenn Lee is warning the city government of a $21.6 million drop in year-to -date collections and a grim financial forecast of years to come due to falling employment levels.