Public Finance Update
A recipe for getting the finances right
COMMENTARY | Cities across the country are currently finalizing their budgets. But budgeting is just one ingredient in a city's financial success.
Tax the sale of guns and ammo? Voters in this state are set to decide.
A ballot measure in Colorado is the only one on guns before voters this year. The effort is part of a broader trend to expand excise taxes.
Neighboring governors knock California plan to lower gas prices
California has the most expensive gas in the country. California Gov. Gavin Newsom wants to force refineries to stockpile gasoline to prevent price spikes, but Arizona and Nevada fear becoming collateral damage.
Food prices are high. To help, states are cutting the grocery tax.
The number of states that still tax groceries is shrinking. Voters in two states will decide in November whether to join a movement away from the sales tax.
States could struggle to cut workforce costs in next downturn
It's a well-worn script. When states face budget challenges, they typically look to cut personnel spending first. But that might not work this time.
After several years of rapid growth, state budgets are downsizing
For most states, 2025 represents a return to more typical economic conditions after an atypical period for their budgets.
States take a more measured approach to ESG mandates
There's great recognition—on both sides of the issue—that strict pro- and anti-environmental, social and governance investing strategies can lead to unintended costs and administrative challenges.
Is it time to dig into rainy day funds?
Despite reserves bulging and revenue receding, state legislators and governors are reluctant to spend savings.
State Medicaid costs poised to surge from pandemic lows
State costs rose by 13% in fiscal 2023 and are expected to increase by an additional 17.2% in fiscal 2024 thanks to the phaseout of enhanced federal aid, provider rate increases and slowing but still elevated enrollment levels.
Measuring and managing risk in the quest for resilience
COMMENTARY | Incidents like the Baltimore bridge collapse should motivate local leaders to think carefully about risk management, prevention and mitigation.
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Can the snarky ‘Save Our Yachts’ campaign save Washington’s capital gains tax?
The long-fought-for and hard-won tax has survived its legal challenges. Now it must survive the ballot.
States look to AI for its potential to help with finances
Artificial intelligence holds promise for creating budget-saving efficiencies, aiding in audits and helping with compliance. But the emerging technology also poses challenges that could affect spending.
The brave new world of local government debt management
COMMENTARY | Market volatility, economic uncertainty and factors like climate change are driving heightened risk, creating a tougher issuing environment and a more complex landscape.
Airports are finally back to their pre-pandemic normal, Fitch says
The ratings agency in the last year has upgraded the bond ratings of several major U.S. hubs amid record travel.
How governments are tackling medical debt
Medical debt can stymie communities’ economic mobility as unpaid hospital bills chip away at public dollars. That’s why local governments are looking to forgive residents’ medical debt, which experts say can be especially helpful for rural areas.
Another large bank plans to exit the muni market
It’s the second big bank to drop its municipal bond business this year. But its decision, which many believe is the result of anti-ESG politics, could have a significant impact.
What a major income tax case before the Supreme Court means for states
During oral arguments this week, the court signaled it was wary of issuing an opinion that could upend the tax code.
Helping cities flip money pits into gold mines
An incubator is working with cities to capitalize on their under-used properties by helping them to think like real estate developers.
How California and Florida are trying to stave off the home insurance crisis
Historically, the two states have had very different approaches to insuring against natural disasters. That’s changing.
Is it time to stop worrying about pensions?
Public pension numbers are looking better than they have in over a decade. But some worry it may not last.
