State budgets

The state will use surplus revenues to pay off the remaining $1.36 billion balance and will loan the trust another $450 million to bolster its health with repayment going toward the state's budget stabilization fund.

Airports, schools and affordable housing received an infusion of cash from lawmakers

"S&P recognizes the progress that has been made and that Connecticut is getting its mojo back," said Gov. Ned Lamont.

The Legislative Analyst's Office forecasts the state could face a $25 billion deficit in fiscal 2023-24.

A combination of federal funding and rising tax collections has filled the coffers.

With federal funding accounting for the largest portion of its revenue, Utah is mulling safeguards in the event of a future decrease.

Illinois raised its fiscal 2023 revenue estimates by $3.69 billion, giving Gov. J.B. Pritzker enough to propose doubling the state's $1 billion rainy day fund.

Jared Polis' $42.7 billion all-funds spending plan for the fiscal year that begins July 1 includes a $16.7 billion general fund with a $2.174 billion reserve.

American Rescue Plan Act dollars amounted to around 22% of states' annual general fund budgets, according to a court filing from a trio of southern states fighting ARPA's restriction on tax cuts.

States and locals need to move fast to capitalize on the value of upfront funding provided in the infrastructure law, Biden administration officials said.

Missouri and Iowa closed out fiscal 2022 with balances that paved the way for tax cuts.

California Gov. Gavin Newsom signed a package of housing legislation headlined by bills removing regulatory barriers to new-home construction.

There are only four statewide bond measures appearing on ballots across the country, the lowest since 2010.

California revenues are $2 billion below its 2023-23 Budget Act forecast for the first two months of the fiscal year 2023.

Improved commitments to pension funding, coupled with other changes to the two states' retirement systems, have yielded bond rating upgrades for both.

Despite a boost in state funding, Arizona school districts face big budget cuts unless the Republican-controlled legislature lifts a cap on their spending.

The once-barren budget stabilization fund now tops $1 billion but it's meager compared to the cushion built up by other states.

Massachusetts Treasurer Deborah Goldberg talks about the Bay State's economic recovery, the largest ESG bond deal ever done in the municipal space and special state initiatives such as promoting diversity and inclusion and creating a Baby Bond taskforce. Chip Barnett and Thomas Nocera host. (22 minutes).

With Texas reporting a double-digit revenue increase in fiscal 2022 and projecting a record budget surplus, Gov. Greg Abbott wants a large property tax cut.

Nearly all construction firms have job openings, and more than half said they're seeing projects being scaled back, postponed or canceled.