In a rare show of unity, banking industry and consumer advocacy groups told congressional leaders that it is not too late to ensure individuals can access all of their coronavirus relief funds promised by the government.
The state doesn't expect any short-term borrowing to cover the current fiscal year, Gov. Ned Lamont said.
Sales taxes are a pillar of the Texas state budget, and the usually stable revenue source has taken a hit from the COVID-19 pandemic.
Two Senate Democrats are criticizing a little-known provision of the CARES Act stimulus package that would provide a tax break mostly to wealthy taxpayers, suspending excess business losses for prior tax years.
Phil Murphy is developing an emergency borrowing plan to combat revenue loss amid the coronavirus pandemic.
GASB said the delay comes in response to a number of requests because of the coronavirus pandemic, with some finance officers asking for up to an extra two years.
Illinois has spent about $170 million on coronavirus-related expenses so far, and Gov. J.B. Pritzker said more information on the budget impact is coming.
Fitch follows Moody's in revising the Empire State's debt to negative from stable.
Moody’s revised its outlook on Illinois’ Baa3 rating to negative from stable; a university study warns of a worst-case $28 billion multi-year revenue hit.
May is when budget talks usually get serious in California, which has a budget highly dependent on income and capital gains taxes.