State budgets

The income tax filing deadline for 51 of California's 58 counties was moved to October, which means the usual April read on revenues may be less informative.

Illinois lawmakers' research arm projects more revenue in the current budget year but warns budget writers to proceed with caution in the next.

With strong reserve levels, states will be able to weather a revenue shortage this year, analysts said.

Mayor Eric Adams executive budget "will be released in just 51 days, giving us limited time to marshal the substantial resources we will need to stay balanced in fiscal 2023 and 2024," said OMB Director Jacques Jiha.

More than half of the 163 bills introduced in state legislatures across the country propose one-time funding for transportation projects using bonds, excess COVID relief or budget surpluses.

Gov. Phil Murphy's proposal doesn't include new major programs or initiatives but addresses long-term liabilities and reserves ahead of a potential recession.

The state's once-depleted rainy-day fund that's now on track to hit nearly $2 billion this year would receive automatic deposits when two financial metrics are hit under pending legislation.

The fresh guidance seeks to end a debate over how to prioritize federal transportation funds that's dogged Biden administration officials for more than a year.

Economists' quarterly forecast estimates lawmakers will have nearly $696 million more to spend than anticipated and taxpayers will receive $3.9 billion through the state's kicker rebate.

State and local governments across the country are making increased efforts to put money forward for the purpose of reparations.