Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
Now 25,000 members strong, financially secure and long blessed with thoughtful leadership, the Government Finance Officers Association is poised to address the challenges to come for those who manage the public purse.
A judge ruled that the state’s Attorney General Andrew Bailey did not have the authority to inflate the estimated cost of a ballot measure to restore abortion rights from $0 to $12.5 billion of state funds.
Most American households don’t save enough for retirement, so some states are pushing private employers to make it easier through state-sponsored payroll withholding plans. Getting the structure and strategy right is crucial.
This year, at least 10 states have implemented or expanded programs for vouchers and other state private education subsidies. There are currently voucher and similar programs in 32 states and the District of Columbia.
A new book by Yale law professor David Schleicher explores the benefits and drawbacks of various responses to state and local debt crises. It’s a trilemma that leaders will face again and again, Schleicher says.
The governor, lieutenant governor and other lawmakers engaged in policymaking debates over Twitter, publicly exposing fractures in the state’s GOP. No deals were made before the session ended.
More than one-third of preschoolers with disabilities went the entirety of last year without receiving at least one mandated service. Experts predict the shortfall is actually worse than the data reports.
A shortage of accountants and auditors has left dozens of municipalities without credit ratings, and new financial reporting requirements are likely to make things worse. There are ways to tackle this skill set supply chain problem.
As legislators contemplate the two-year, $50 billion budget, nonprofit leaders are advocating for a 9 percent increase in funding, claiming their increases have been far below inflation over the last 10 years.
The Democrat-controlled Senate approved the budget with a 34-22 vote on Thursday evening, which will allocate an additional $100 million to higher ed, $85 million for homelessness and $200 million toward pension plans.
While some have predicted economic returns of $150 million or more, economists predict that those numbers are inflated. Last time the Democratic National Convention came to Chicago, the city spent $60 million to prep for the event.
A debt-ceiling breach would cost states in terms of revenue, pension investment losses and increased borrowing costs. Even a fix at this point will likely lead to cuts in federal grants.
State lawmakers are considering legislation that would reallocate hundreds of millions of dollars from K-12 and higher education into a new savings account and would cap future education budget increases to no more than 5 percent.
Revenues are slowing but lawmakers, at least in red states, have continued to enact major tax cuts this year.
Income tax and sales tax revenue projections are slipping. State and local policymakers need to avoid fiscal giveaways and gimmicks, and they need to beware of potential federal aid clawbacks.
Northeastern New Mexico received federal funds to develop rural maternity care networks of hospitals and clinics, which has since helped more than 760 mothers. But the program’s funding will run out in August.
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