State budgets

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.

The shortfall Gavin Newsom says his budget must close is $30 billion less than the deficit forecast by the Legislative Analyst's Office in November.

The D.C.-area agency, unique among mass transit systems in that it has no dedicated operating funding, faces the same challenges as other transit agencies: fewer riders and federal support.

The governor proposed state funding for schools to slow the rise in property taxes. His Idaho Works program would provide $50 million toward $800 million in bonds to pay for water and transportation projects.

The cost of empowerment scholarship accounts, which became universally available in 2022, has exceeded projections and raised concerns about how money is spent.

"There is no doubt that inflation has had an impact. It's important that we continue to ensure that everyone working in New Jersey has access to a livable wage," said Gov. Phil Murphy.

Illinois saw an uptick in its financial fortunes during the past fiscal year, one of the few times the state's net position has improved in recent years.

Some general fund spending will be shifted to bonds to help the state meet priorities like housing and healthcare, Hawaii Gov. Josh Green announced.

Without money to expand a key artery, but helped by a federal "Mega Grant," Indiana is pursuing tactics like dynamic shoulder lanes to boost capacity.