Public Finance Update
Should states and localities be worried about the U.S. downgrade?
Or about the possibility of another one amid the budget showdown in Congress? Fitch Ratings’ decision to knock the federal government’s credit rating down a notch last month doesn’t directly affect state and local credit quality. But it’s a warning shot.
As cyberattacks grow, cyber insurance is increasingly out of reach for many municipalities
Experts caution that governments need to recalibrate their cyber risk management approaches by emphasizing employee training and taking a whole-of-state approach.
An emerging ‘greenium’? New research says green bonds cost governments less
Amid an ESG backlash in some states, the finding could lead to more governments seeking an ESG-related label for bonds that will fund socially or environmentally sustainable projects.
After enacting strict abortion laws, many states are turning to tax breaks for expectant parents
Four states have approved new tax credits or deductions that allow taxpayers to claim unborn children. Nearly a dozen are expected to follow. But do these laws actually help expectant mothers?
State retirement plans close savings gap and pad bottom lines
Six years ago and millions of dollars since, Oregon launched the first state-sponsored retirement program for private sector workers. Today, 19 states have launched or plan to launch their own savings programs.
Boosting affordable housing by reclaiming investor-owned properties
As the affordable housing supply gets squeezed, some worry that private equity firms will scoop up more properties.
Five years after the Wayfair ruling, states' reliance on the sales tax grows
But while the sales tax has brought in billions of dollars for state and local governments, businesses find the patchwork of rules burdensome.
Minnesota Takes On Corporate Profit Shifting
The state targeted a loophole that companies use to create income tax havens abroad. As overall tax revenue continues to slump, will other states do the same?
Two Different Funding Approaches to Education Reform
One solution holds that the public school system itself is the problem to be fixed while the other says that targeting money to disadvantaged communities is the answer. Both approaches are expensive and it’s not clear that either work.
The U.S. Supreme Court Could Upend Local Property Tax Laws
The justices heard a case last week on a Minnesota county's profit on a seized condo. A ruling could change property seizure programs nationwide.
How an Auditor Shortage Could Hurt Local Governments
Fewer auditors have led to a lag in financial reporting and is threatening to translate into more costs for governments.
As States Plan for Next Year’s Budget, the Economy Flashes Mixed Signals
Even with rising inflation and worries about a looming recession, most state budgets are doing better than expected. But there are signs that the slowdown policymakers keep planning for is getting closer.
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