Finance

As Influx of Aid Nears, Some Spending Principles For States and Localities to Consider

Billions in federal coronavirus relief payments to states and localities are expected in May. Important choices lie ahead about how to best put the money to use.

Biden’s American Families Plan Asks States to Pony Up for College, Pre-K

The administration introduced the $1.8 trillion proposal Wednesday that focuses spending on education and child care.

How the Federal Reserve is Increasing Wealth Inequality

The Fed’s low-interest-rate policies have stabilized the economy and turbocharged the stock market. But those who don’t own lots of stocks haven’t benefited anywhere near as much as those who do.

Republicans Unveil $568 Billion Infrastructure Proposal

GOP senators said that they’re ready to engage with Democrats and the Biden administration to work out a deal.

Justice Department Defends Tax Mandate Provision in Covid Relief Bill

In a court filing, the department responded to a lawsuit filed by Ohio’s attorney general, who said the tax mandate was unconstitutional and encroached on his state’s financial decisions.

The Federal Government Will Now Give PPP Loans to Borrowers in Bankruptcy

Thousands of companies working their way out of bankruptcy are now eligible for the Paycheck Protection Program after ProPublica reported that the Small Business Administration had been excluding them.

'A Troubling Trend': Independent State Program Evaluation Under Attack

Without a vote, the legislative leadership in North Carolina closed the state’s program evaluation division. Experts say the growing power of legislative leaders presents an accelerating danger for transparent, publicly available evaluation.

House Lawmakers Launch Group to Fight for 'SALT' Cap Repeal

But they face firm Republican opposition and there are no clear signs of support coming from the White House.

New Treasury Office Will Oversee Covid Relief and Recovery Programs

Billions in state and local government aid is part of the office's portfolio.

Cities Prepare to Spend Historic Sums of Federal Aid

In addition to filling budget gaps, they're looking at longer-term recovery programs focused on areas like housing and job training.

Biden's Budget Would Up Spending on State and Local Programs

The president's initial fiscal 2022 blueprint, released Friday, calls for a 16% federal spending increase on a broad slate of domestic programs. Republicans swiftly criticized the plan.

Best Market for First-Time Homebuyers is in the Middle of Illinois, Report Finds

A new report from the National Association of Realtors suggests that mid-sized cities could be the ticket for millennials looking to purchase homes.

Biden on Infrastructure: ‘We Will Not Be Open to Doing Nothing’

The president also emphasized he is prepared to have talks with Republicans about his proposed spending package.

Legal Challenges Mount Against Tax Cut Prohibition in Covid Relief Law

Confusion over the tax mandate embedded in the $350 billion direct aid program for states and localities led Kentucky and Tennessee to file suit.

‘SALT’ Saga Flares as Governors Push to Repeal $10,000 Limit

The latest efforts to restore a federal break for state and local tax payments come as the White House proposes tax policy changes to help fund President Biden's infrastructure package.

29% of Adults Have Debt in Collections, Report Finds

An analysis by the Urban Institute shows a disproportionate amount of debt in collections is held by communities of color and residents of southern states.

Grading State Budget Practices at a Turbulent Time

The Volcker Alliance’s latest state budget report cards come as the pandemic has tested public finances and as historic sums of federal aid flow toward states and localities.

Survey: Half of Black and Latina Women on the Brink of Poverty

Women of color said they have had barely enough to pay for food, housing and child care during the pandemic.

What Can Parks Do When Demand Rises as Budgets Decline?

Though there may be greater appreciation for the nation’s parks, many are still fighting for funding. Some states are finding solutions.

Lawmakers Renew Push to Restore Axed Municipal Refinancing Tool

Advance refunding helped state and local governments save on borrowing costs. The bipartisan effort to bring it back could get rolled into forthcoming infrastructure legislation.