State budgets

Lawmakers choose a scoop-and-toss move despite calls for better targeting of the federal funds.

State spending grew 7.8% to cover the expenses of battling COVID-19.

As gridlock grips the federal government, Colorado is hoping to shield citizens and businesses from worsening pandemic impact.

The election defeat of House Speaker Nicholas Mattiello changes the Ocean State's political playing field as it faces a $275 million deficit.

The latest revenue and spending report by the state’s nonpartisan Legislative Analyst’s Office is in stark contrast to the doom predicted early this year.

The state's backlog of unpaid bills will grow to $35 billion by 2026 if it doesn't make any structural budget fixes, according to a new forecast.

The state has been coping with the economic fallout of COVID-19 and a burgeoning second wave that is expected to challenge the commonwealth’s finances and burden its healthcare system.

John Hallacy, founder of John Hallacy Consulting LLC, and Andrew Coen, Bond Buyer Northeast regional reporter, talk about next week’s $4 billion COVID-19 emergency GO and taxable social bond sale by New Jersey. Chip Barnett moderates the discussion on what it means for the state and whether the issue will become muni bond market benchmarks with an extra appeal to international investors. (15 minutes)

Illinois General Assembly leaders canceled the annual veto session amid rising COVID-19 cases, which means lawmakers won't act on the state budget before January.

The state’s economic downturn has yet to subside, State Treasurer Randy McDaniel said.

MBTA officials insist the moves, which include a capital-to-operating budget shift, are necessary to help seal a coronavirus-related $579 million operating gap.

With continuing weakness in oil fields, restaurants and stores due to the pandemic, Texas saw sales tax collections fall 3.5% year-over-year.

The most significant revenue loss in Florida continues to be the drop in sales tax collections in the tourism and hospitality industries.

California's progressive tax system preserved revenues amid the COVID-19 pandemic, Legislative Analyst Gabriel Petek told a Bond Buyer conference audience.

New Jersey had a choice between the Federal Reserve’s Municipal Liquidity Facility and the muni market for its upcoming $4 billion borrowing.

New York Gov. Andrew Cuomo is holding off on addressing a widening revenue gap until after the election, hoping a Democratic win will mean more stimulus, a move analysts criticized.

The securities industry was buoyed by federal stimulus and a massive influx of liquidity, report says.

Options for local governments amid the coronavirus range from rainy-day withdrawals to pension payment delays, and renewed calls for shared services and mergers.

Tough decisions on spending and taxes lay ahead if Illinois voters reject a progressive income tax structure and federal coronavirus relief fails to pan out.

With $3.6 billion less than expected in revenues, the governor proposed using part of the commonwealth's rainy-day fund, leaving $2.2 billion for future shortages.