State budgets

Analysts say states can avoid short-term issues as a result of strong reserves but some may face challenges over the longer term.

Indiana saw a tax revenue windfall in January, with general fund revenues coming in 15.8% above last January's number and 9.3% above December's projections.

A new tax on corporations would create a dedicated revenue stream for commuter rail and bus operator NJ Transit under New Jersey Gov. Phil Murphy's budget plan.

Children were the organizing principle of Illinois Gov. JB Pritzker's sixth State of the State and budget address Wednesday, which called for a balanced budget.

Maura Healey's budget plan for fiscal 2025 features more money for the Commonwealth Transportation Fund, which would increase its bond capacity by $1.1 billion.

The state faces slower job growth after gains in the previous three years outpaced the nation, according to the Dallas Federal Reserve's Texas economic outlook.

Josh Shapiro proposed sweeping changes to Pennsylvania's K-12 and higher education systems and $500 million of borrowing for his economic development plan.

Biden administration officials have indicated they will not be appealing the Eleventh Circuit's decision allowing states to use ARPA funds to offset tax cuts to the Supreme Court.

Stronger-than-expected economic numbers could boost bond issuance.

The chamber is once again refusing Gov. Kevin Stitt's call to pass an income tax cut during a special session.

The fiscal 2025 budget Jim Justice laid out in his final State of the State address contains tax credits for senior citizens and families with young children.

Infrastructure, housing and recovery efforts from the deadly Maui wildfires in August were a focal point of Hawaii Gov. Josh Green's State of the State speech.

The rating agency said plugging a growing budget gap is "crucial" for the credit quality of the Aa1-rated state.

Hochul's budget proposal for fiscal 2025 would preserve New York State's reserves at $19 billion.

Brian Kemp said the budget proposals fund more than $1.8 billion for capital programs "without issuing a single additional dollar in general obligation debt."

Gov. Katie Hobbs' proposed fiscal 2025 budget calls for agency fund sweeps, a new eligibility requirement for a costlier-than-expected universal school voucher program, and other measures to combat a rising shortfall.

The Republican governor is trying once again to focus lawmakers' attention on cutting income taxes during a special session set to begin Jan. 29.

In its take on the governor's proposed budget, the Legislative Analyst's Office lowered its own deficit projection, but called the governor's revenue projections "optimistic."

The 2025 state budget would provided $2.4 billion to New York City to pay for the costs of caring for a rising influx of migrants, which includes taking $500 million from reserves.

As double-digit revenue growth comes to an end, Southwest governors are crafting budgets to deal with the new normal.