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.
One Social Security number was found to have been used for 125 policies in 2023.
Zohran Mamdani’s promise to raise taxes on New York City’s richest residents set off a chorus of warnings about tax flight. But when millionaires do move, it’s rarely for tax reasons.
Success in the coming years will require sustainability, adaptation and perseverance, especially as AI both enhances and disrupts government. Professional leaders need to look beyond the short term, facilitate change where needed, and reinvent themselves.
Their minority contracting programs and others are under federal attack, and the consequences reach into the tens of billions of dollars. The souls of our communities should not be for sale.
Under the plan, Texas newborns would get $1,000 placed into stock-market investments, potentially doubling the benefit from the federal program passed this year.
North Carolina and Connecticut are leading a multistate inquiry seeking transparency from top lenders after Federal Reserve data shows nearly one-quarter of users paid late last year.
Backed by Gov. Greg Abbott and the Texas Blockchain Council, the state’s $5 million crypto investment comes as bitcoin prices dip and critics warn the state is venturing into a volatile industry.
They’re an important pipeline of skills, products and innovation for larger industries, but they’re reeling from tariffs. There’s a role for grants and tax breaks, and states need to track who these businesses are and what they do.
Program and tax changes in the massive budget reconciliation bill are reshaping states’ short- and long-term fiscal pictures. How will policymakers respond?
State and local financial managers face the impact of federal aid cutbacks, plus new rules and even some opportunities. It’s time to focus on what’s practical and necessary, both near and longer term.
Expiring subsidies and fewer insurers fuel 421 percent surge in ACA marketplace premiums.
Reduced revenues and rising costs leave municipalities tightening their budgets, per a new National League of Cities report.
While state research and development incentives aim to spur innovation, mixed evidence suggests they may simply shift activity rather than grow it.
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.
Abbott’s strategy combines primary pressure and legislative power plays to move caps on appraisals and a plan to eliminate school district taxes.
Minnesota joins other states in crafting a funding strategy designed to control volatility and avoid sustained underfunding.
From R&B concerts in New Jersey to a 1950s sock hop in Connecticut, new data shows wide variation in how governments are spending the windfall.
The state’s projected budget deficit for fiscal year 2026 has increased to $58.3 million. Idaho’s constitution prevents it from running a budget deficit.
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.
