State budgets

Stabilizing the Highway Trust Fund and easing Buy America requirements are top congressional priorities for state transportation officials.

The time between the announcement of an award and the actual cash going out the door can be frustratingly long.

An increase in tax collections helped fuel the flow of billions of excess dollars into the state's previous budget, although growth in key sales tax revenue has slowed.

Large reserves will insulate states against downgrades in the near future, one rating agency says.

States use tax proceeds in a way that appeals to voters because recreational marijuana is often legalized through a referendum process.

Gov. Gretchen Whitmer chose Jen Flood, her deputy chief of staff, to replace Chris Harkins who is leaving state government later this year.

The state reported a $7.07 billion budget balance and $1.8 billion in its rainy day fund.

In January 2022, mobile sports betting went live. With a 51% tax rate on gross gaming revenues, New York, Rhode Island and New Hampshire have the highest gaming taxes in the nation.

"Further declines could weaken New York's tax revenue from the securities industry and have repercussions for our state and city budgets," said New York State Comptroller Thomas DiNapoli.

Revenue for the state's fiscal 2024-25 biennium that began Sept. 1 is projected to exceed the enacted budget by nearly $18.3 billion.

Several states enacted school voucher or tax credit laws this year, while Arizona officials grapple with rising costs in its universal program.

Kevin Stitt ordered a special session to put the state on a path to zero income taxes and consider a proposal sparked by a dispute over Native American taxation.

The state managed to grow revenues above forecast for the first two months of the fiscal year despite the delayed tax filing deadline.

The U.S. Court of Appeals for the Eleventh Circuit denied Treasury's motion for en banc review following its January panel decision that rendered the American Rescue Plan Act's Offset Provision "unconstitutionally unascertainable."

The total economic impact from the almost 292 million tourists visiting the Empire State last year was roughly $123 billion.

The state in 2010 sold $1.5 billion of bonds backed by payments from a master settlement agreement with tobacco firms and used the proceeds to pay overdue bills.

Travelers to the Mountain State gave West Virginia a $7 billion boost in 2022, with spending up 17% from pre-pandemic levels, which outpaced the 1% national recovery rate for the tourism industry.

State lawmakers cleared an $83.8 billion spending plan for fiscal year 2024 after a long dispute along party lines over spending provisions and tax cuts.

States nationwide saw slower general fund revenue growth in fiscal 2023 after gains the previous two fiscal years fueled by high inflation and federal stimulus.

After years of surplus from COVID-19 related stimulus, state tax revenues declined by 6.7% in nominal terms and 9.4% in real terms in June when compared with a year prior.