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.
A 15 percent decline in September wagers prompts warnings that bettors are shifting to cheaper illegal markets under one of the nation’s highest per-bet taxes.
City officials won state approval to sell $125 million in short-term bonds to cover payroll for nearly 5,000 workers through the end of the year.
After accruing more than $2 million in debt, the Galveston County city approved a tax increase, prompting the AG’s office to demand a repeal.
Instead of across-the-board property tax cuts, targeted state and federal incentives for younger first-time home buyers and older would-be sellers could begin to break the logjam in the housing market.
States are reducing subsidy slots, slashing provider reimbursement rates and raising co-pays for low-income parents amid shrinking federal aid.
Federal officials said $4.65 billion from SNAP reserves will be released to meet a court order, but warned states may face weeks of delays processing partial benefits.
The possibility that Congress could reach a deal on ACA subsidies has thrown this year’s open enrollment period into chaos. State leaders are gaming out strategies just in case.
Conservatives backed criminal justice reforms in hopes of driving down corrections costs and state budgets. A lot of violent and repeat offenders would have to be released to achieve real savings.
Tina Kotek joins the governors of at least 12 other mostly Democrat-led states — including Washington and California — in diverting millions in state money to backfill the lost federal funding to SNAP.
Short-term interest rates are likely to continue ratcheting down, making it a challenge for state and local financiers to maximize income on investments. But there are a few opportunities here and there.
Federal funding is a bigger share of state budgets than ever. It comes with too many strings and strictures that choke off efficiency and innovation, and it threatens democratic self-governance.
As demand for GLP-1 medications for weight loss surges and drug costs exceed $990 per month, state policymakers wrestle with coverage decisions and affordability concerns.
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While the private sector has embraced real-time payment tools, many public disbursements — from tax refunds to critical disaster relief payouts — still rely on traditional methods that can be slow, costly and vulnerable to misuse.
After reaching a record high in fiscal 2024, state reserve capacity fell to a median of 46.9 days of spending in FY 2025 as revenue slackens and spending demands rise.
Taxpayers must be protected from unchecked growth in local government spending. Statewide limits on tax increases would do that while forcing local governments to live within their means.
The new law also comes with extra consumer protections.
In Virginia, lottery income funds about 10 percent of the K-12 budget. Economic fears are leading residents to play less.
Not much for now, with next year’s insurance premiums jumping far more than general inflation and tax revenues. Employers’ only hope to begin stemming these costs long term is a stronger, unified front at the state and national levels. There also could be an important role for public pensions.
States and localities rely on the regularity and reliability of federal data. Disrupting it undermines everything from pensions to budgets and threatens public trust in government.
While understandably feeling under the gun, there are many ways states can continue to grow both their economies and revenues.
Federal import duties may squeeze state budgets over time, particularly in manufacturing and trade-heavy jurisdictions, a new Pew analysis found.
The new Dallas-based exchange plans to lure companies frustrated by NYSE and Nasdaq rules when trading begins in 2026.
State and local retirement systems should collaborate to develop an AI-powered digital assistant to help government employees make better financial decisions throughout their careers. Hand-me-downs from the private sector won't cut it.
Analysts report $11 billion in spending even as the state serves 31,000 fewer residents and patients struggle with long waits and access hurdles.
Colorado’s revenue dropped by $1.2 billion due to tax code changes in the One Big Beautiful Bill Act. Lawmakers altered some tax credits but left spending cuts up to Gov. Jared Polis.
Inflation, tight property tax caps and cooling sales tax revenue are forcing municipalities to cut contracts, raise fees and reduce services.
With nearly $7 billion in K-12 support delayed, districts are bracing for cuts to staff, programs and student services.
Updates enacted by Congress will make this successful program for low-income communities even more attractive to investors, particularly for housing. But there are plenty of ways to take advantage of the current program.
Blame Ozempic. And maybe tariffs.
Chicago is $1.15 billion short. A report commissioned by Mayor Brandon Johnson looks unlikely to solve that problem.
California’s high housing costs and Louisiana’s entrenched hardships continue to leave millions struggling.
