Finance

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.

How a Federal Agency Excluded Thousands of Viable Businesses From Pandemic Relief

The Small Business Administration refuses to give pandemic relief loans to people who have filed for bankruptcy, even if their businesses can survive.

When State and Local Governments Can Expect to Receive Stimulus Funds

The Treasury Department is still working on guidance that will better inform states of how they can use the money. But aid for cities and counties must be distributed within 60 days of the law’s passage.

Republican State Officials Bristle Over Tax Cut Prohibition in Covid Relief Bill

Ohio’s Attorney General has sued the Biden administration over the provision, which is embedded in the $350 billion direct aid program for states and localities. A coalition of 21 other AGs are asking for more guidance on the mandate.

‘An Insult’: Attorneys General Slam Purdue Restructuring Plan

Under the proposal filed this week, the OxyContin manufacturer would pay $4.25 billion to states, municipalities and others.

The Overshadowed Plight of City Budgets

New federal aid offers welcome relief for many local governments, which have seen their financial difficulties upstaged at times by better-than-expected state revenues.

The Cities Where Americans Paid Off the Most Credit Card Debt Last Year

As the pandemic put a damper on many activities, people reduced balances by a record sum, a new study finds.

Covid Relief Bill Will Infuse Billions into Local Economies

From $1,400 stimulus payments to $300-a-week unemployment benefits, the $1.9 trillion aid package gets cash to residents that can translate to stronger state and local tax revenues.