State budgets

The securities industry accounted for roughly $28.8 billion in state tax revenue and $5.4 billion in New York City tax revenue for fiscal 2023, state Comptroller Thomas DiNapoli estimated.

California State Senate suggests deficit-shrinking cuts ahead of formal budget.

"My 'One Philly Budget' invests $2 billion over five years in new operating and capital dollars focusing on five pillars — public safety, clean and green, economic opportunity, housing and education," said Mayor Cherelle Parker, the city's first woman mayor.

Since Gov. Ron DeSantis took office in 2019, Florida has paid down $5.3 billion of state debt, or about 25% of the Sunshine State's total debt.

The relative health of state treasuries was an area of interest at the National Association of State Treasurers legislative conference.

Gov. Michelle Lujan Grisham said her public-private sector plan to build a strategic water supply will remain a top priority after a bill for financing failed to advance in the legislature.

The state's February general revenue collections came in $30.62 million below official estimates. but total collections for fiscal 2024 are $428.1 million ahead of forecasts.

The city has again proven to have a resilient economy, with better than budgeted revenues, said Howard Cure, a partner and director of municipal bond research at Evercore Wealth Management LLC.

The Ohio state Senate passed a bill that included $1.27 billion in bonds for state government facilities, classrooms, subdivisions and conservation projects.

Hawaii's budget director told a state Senate committee the costs to house people are coming in double what was estimated.

"When you add everything in this document up, it demonstrates you can make smart investments when you budget wisely, trust the market rather than try to dictate it, and empower your citizens more than you empower the government," said Georgia Gov. Brian Kemp.

Washington state lawmakers approved a $14.6 billion two-year transportation budget, a $1 billion increase.

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.