State budgets

The state's highest court unanimously ruled that a law Gov. Phil Murphy spearheaded to authorize up to $9.9 billion of bonds is constitutional.

President Trump backtracked Sunday on his executive order that requires cash-strapped states to contribute $100 of a reduced $400 a week supplemental federal unemployment benefit.

The competitive sale is scheduled for Aug. 19 with Stifel Nicolaus as financial advisor.

Brown convened the special session for budget talks, but also anticipated talk on policy items, like police reform.

Republican opponents of New Jersey Gov. Phil Murphy’s proposal to borrow up to $9.9 billion for offsetting COVID-19-related revenue losses argued before the state’s highest court Wednesday the state’s constitution and past legal precedent should prevent the plan from proceeding.

Illinois in the spring cut its fiscal 2020 and 2021 revenue estimates by more than $7 billion due to the pandemic.

Oklahoma returned to a positive trend in tax receipts in July, but Treasurer Randy McDaniel cautions that troublesome signs remain.

Failure to aid one could hurt the others, according to the state comptroller's review of the city's financial plan.

With help from federal stimulus funding and online sales, Texas sales tax revenues turned positive in July. However, other tax revenues have fallen significantly.

House Speaker Nicholas Mattiello has filed bills calling for a referendum on boosting the state's reserve balance to 10% of annual general revenue over a decade.

Minnesota’s projection of a $2.4 billion gap in the current budget cycle remains on target, but another $4.7 billion gap looms in the next two-year budget as the toll mounts for the COVID-19-induced economic shutdown and recession. The state plans to sell $1.2 billion of GOs next week.

Colorado's decision to withhold pension funding brings a warning from Moody's.

State revenues for fiscal 2020 came in 5.7% lower than Florida forecasters anticipated because of business disruptions caused by the COVID-19 pandemic.

Minnesota's governor blames efforts to strip emergency powers he used in the fight against COVID-19 for the holdup in passing a $1.8 billion bond authorization.

Tom Kozlik of Hilltop Securities explains why meaningful federal coronavirus assistance to states and cities is no slam dunk. Paul Burton hosts. Recorded July 21.

Lottery revenues, used to cover a chunk of the state's pension payment, will fall about $163 million short.

A 16-year-old bond case reemerged to play a central role in Republican efforts to halt Gov. Phil Murphy’s $9.9 billion borrowing plan.

More will be clear once the state gets a full tally of receipts from the July 15 tax deadline, but a rocky road lies ahead in any case.

With prospects of federal aid waning, an $8 billion revenue gap will leave the the state government and Gov. Andrew Cuomo few attractive options.

The commission approved the borrowing amid projections of a $153 million budget shortfall for fiscal 2020 due to COVID-19.