State budgets

Treasurer Brad Briner said the unused money was in state accounts for years.

The state will tap reserve funds, close tax loopholes and cut spending to address a more than $1 billion shortfall in its fiscal 2026 budget.

The president's authority to withhold already appropriated federal funds has been the focus of dozens of lawsuits, including from cities and states.

Auditor General Frank Mautino said the delay was due largely to $1.2 billion erroneously collected from pharmaceutical companies that had to be addressed.

Changes to the federal tax code affect how states manage their budgets depending on how or if the state tax codes conform to the new rules.

A flagship program under the Infrastructure Investment and Jobs Act, the EV charging station initiative was slow to take off despite $5 billion of federal funds.

Both sides of the muni market would be affected by new tax schemes being weighed by states with growing populations and dwindling revenues, according to analysts.

The state faces a $1.2 billion revenue hit in fiscal 2026 , as well as future spending pressures, from President Trump's One Big Beautiful Bill.

The House Transportation and Infrastructure Committee has rolled out bipartisan legislation designed to depoliticize FEMA and move the agency towards formula-based grants, a win for counties.

The Trump administration has denied Maryland's request for Federal Emergency Management Agency funding to aid communities on the western side of the state who were flooded out in May.

The effects of the One Big Beautiful Bill have yet to make a dent in state and local budgets as market experts and academics look into the future with concern.

Illinois Gov. JB Pritzker led governors from 18 states in demanding the Trump administration release $6.8 billion in education funding.

"Most states do not expect to be able to keep key roads and bridges to a state of good repair," said David Draine, principal officer, public sector, retirement systems for the Pew Charitable Trusts. 

With big state incentives and tariff protection, a United Arab Emirates-based aluminum producer has pledged to build the first new U.S. smelter in decades.

The budget traveled a bumpy road before a package of spending bills won final passage just days before the July 1 start of fiscal 2026.

Washington State Gov. Bob Ferguson said he doesn't plan on calling a special session to deal with lowered revenue expectations.

Oregon's Senate president altered the make-up of the transportation committee to get the massive tax bill passed.

Florida lawmakers passed a state budget and approved plans to pay off $830 million of debt in fiscal 2026 in advance of maturity.

A growing rainy-day fund helped Alaska win a Moody's Ratings upgrade, bringing the state's issuer and general obligation bond ratings to Aa2 from Aa3.

As the Senate Finance Committee works on the the reconciliation puzzle, attorneys, accountants, and doctors are lobbying for keeping the pass-through exemptions that provide a workaround to the cap on state and local taxes in place.