The taming of inflation was the main financial story. Bond and capital markets were cooperative, even if voters upset about property taxes were not. Governors, mayors, finance directors and pension pros may soon look back wistfully at 2024’s business-as-usual atmosphere.
’Tis the season: State politicians love to proclaim temporary tax respites, but they rarely achieve their stated objective of boosting economic activity. Poor timing, poor design — or just a bad idea?
Only $599 million of the record $1.3 billion homelessness budget last year was actually spent. City Controller Kenneth Mejia blamed “a sluggish, inefficient approach” for the underspending.
A new report from Brookings shows how state departments of transportation have a free hand to spend on highway projects, but don’t keep good track of progress toward specific goals.
The New York governor proposed a 40 percent cut in the already-approved toll pricing with the expectation that the toll will ramp up to the original $15 base toll over the course of several years.
The five-year budget outlook is poorer than the one the state faced in the Great Recession and, without any changes, Maryland will only be able to cover 84 percent of planned spending through the 2030 fiscal year.
The total damage in Western North Carolina is estimated at $53 billion; Gov. Roy Cooper has proposed a small fraction from state funds for costs that won’t be covered by the federal government or private insurance.
The Los Angeles Metropolitan Transportation Authority has a $3.3 billion list of projects to achieve ahead of the 2028 Games that is only 5.2 percent funded so far.
States have been awash with cash in recent years. Those that didn’t make spending increases permanent are now in better shape.
Parks gained popular and political support during the pandemic. That hasn’t translated into increased funding, especially for smaller neighborhood parks.
New analysis shows the breadth of Nebraska campaign giving by Pete Ricketts and his parents, which spiked when he ran for governor and spiked again to support Jim Pillen, who soon appointed Ricketts to the U.S. Senate.
Wayne County, Mich., nearly filed for bankruptcy in 2014. It just posted its tenth budget surplus in a row.
This fall, residents will vote on two major criminal justice ballot measures, one of which would increase the time some criminals serve in prison and the other would create a $350 million fund for police agencies.
Future in Context
A look at Milwaukee County Executive David Crowley’s innovative approach to tackling homelessness, budget challenges and systemic inequality. Crowley is among those recognized as this year's Public Officials of the Year.
The Legislative Emergency Board approved the funding last week. Spending on wildfires this year has reached $250 million, which is more than double the amount budgeted for the response.
As a recent study documents, federal fiscal stimulus created a budget windfall for states. Most cut taxes, and some now must scramble to make up for shortfalls. Congress is likely to impose tighter restrictions on future countercyclical aid, so it’s a time for all levels of government to get their acts together.
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