Finance
Managing public finance has become a demanding aspect of state and local government, especially as economic health fluctuates and outside forces create revenue instability. Articles on taxes, budgets, pensions and bonds help to bring insight to finance management at the state and local level.
Voters in three states enshrined Medicaid expansions in their state constitutions. Those states could be on the hook if Congress cuts program funding significantly.
Trade wars, federal aid cutbacks and IRS layoffs will all have an impact on revenues, though the shocks may not be as bad as some fear. Still, for most jurisdictions budget and staffing freezes or cuts lie ahead. But for now leaders should resist the temptation to raid rainy day funds.
The state recently became the first since 1980 to vote to eliminate its income tax. This will boost economic growth while removing barriers to work — and could ignite a wave of similar state-led reforms.
The president wants to reward companies that make things in this country and punish those that don’t. This may not be enough to counter the forces that have shrunk manufacturing for decades.
The median balance increased by 7 percent last year, a big comedown from 31 percent growth in 2023. Still, half the states could operate solely on rainy-day accounts for longer periods of time.
If sensible ideas from a decade ago gain traction in Washington this year, they could boost U.S.-based manufacturing and international competitiveness, with a mixed impact on state and local tax revenues and policies.
If Congress reduces matching funds for the Medicaid expansion under the Affordable Care Act, many states would suddenly face $2 billion shortfalls apiece.
The House and Senate passed competing bills that would end the income tax and increase gas taxes. Many differences must still be reconciled to make one version into law.
A new forecast anticipates the state seeing nearly $1 billion less in revenue than projected as recently as November, bringing the expected four-year shortfall to $15 billion.
Providing parents with tax credits has mostly been a Democratic priority but the idea has gained traction in Ohio, Indiana and other Republican-led states.
Americans believe that their local governments spend money more wisely than their state and federal counterparts. But forcing localities to do more with less isn’t a recipe for government efficiency.
Cutting this unloved levy has again become a flashpoint in some states, once more raising difficult issues of fairness. Here’s what we can learn from decades of tax-limitation laws.
Austin, Dallas, Houston and others face shortfalls. An analysis of the nation’s 75 biggest cities found that 54 are short of funds with a collective $300 billion in debt.
Currently, the “advanced computing surcharge” on companies such as Amazon and Microsoft is capped at $9 million apiece. Eliminating the cap could triple such revenues to $200 million.
AI’s rapidly advancing offspring will benefit portfolio managers as ever-more-intelligent systems drive better investment results. But that’s just the start.
The House and Senate are pursuing separate approaches that would offer greater relief either to homeowners or commercial properties.
Last year, the state created incentives for men's professional teams. Now there's bipartisan support to extend them to women’s teams.
With strong reserves, states have made billions through interest and other investments. This recent windfall is at risk as interest rates and other investment returns become shakier.
Third-party services have bought and sold lottery tickets by the millions, raising concerns about lack of oversight and guardrails.
State bills aim to impose limits on transactions and fees, require consumer warnings and tackle the rise in cryptocurrency scams.
A memo from the Office of Management and Budget freezing federal grants to states was canceled. But funds are still being kept back, and budget officers are looking for answers.
Many states, particularly Republican-led ones, are feeling pressure to align their legislative priorities with the presidential administration. But states are facing new financial constraints after years of revenue growth.
Texas lawmakers are exploring tax incentives to help businesses provide affordable child-care options, aiming to address the state's child-care shortage and support working families.
Important federal deposit insurance rules and possibly its entire regulatory apparatus could come into play in Washington this year. State and local treasurers need to focus on vital public and fiduciary interests.
Governor Josh Shapiro pushes for recreational marijuana legalization in Pennsylvania, estimating over $1 billion in revenue within five years to help address the state's budget shortfall.
Most red states are looking to reduce property tax burdens, which have increased along with home values. Finding ways of replacing lost revenues for locals remains a challenge.
Republican Gov. Mike DeWine has proposed a new refundable child tax credit and increases in child care and children’s health funding, along with full funding for public schools.
A combined federal and state effort to redesign the boondoggle-prone economic development program could also provide the blueprint for rebuilding devastated communities.
South Carolina residents are seeing rates go down thanks to a law passed in 2022, but the state still charges a lot more than North Carolina and other southeastern neighbors.
A bill would set caps on infrastructure funds, allowing localities to make up the difference by charging fees on deliveries. Local officials say the plan will leave them short.
It could bring states a lot of revenue. But voters don’t like it, even though few of them would have to pay.
