Budgets
Watchdog warns of potential New York MTA budget gaps
The Metropolitan Transportation Authority’s potential budget gaps could widen to nearly $900 million in 2026, according to the Citizens Budget Commission.
Read MoreChicago mayor unveils ‘first step’ budget that holds line on taxes
The proposed spending plan includes the first chunk of money from the city’s new casino, which will support underfunded police and fire pensions.
Read MoreGuam governor accepts budget while criticizing it
The governor said the budget would needlessly wipe out a rainy-day fund.
Read MorePuerto Rico’s FY 2023 revenues were 12.8% above projections
But a change in how foreign corporations are taxed brought down total revenue for the year.
Read MoreChicago working on budget forecast with transition report, ACFR, advice in hand
Several guideposts have also already been offered as Mayor Brandon Johnson must balance his campaign pledges on funding new investments and structurally balancing the budget while holding the line on property taxes as the city deals with crime, rising costs, and end of federal COVID-19 funds.
Read MoreNashville Metropolitan Council approves a $3.2 billion budget
The plan includes a bump to public employee salaries and new spending on education.
Read MoreCook County expects surplus this year, gap near $100 million next year
The gap next year is up from the $18.2 million shortfall projected heading into the fiscal 2023 budget season but down from the $121.4 million projection in 2022 and the expected near-record $410 million hole that loomed in 2021.
Read MoreFlush with tax revenues, federal funds, South Carolina passes $14B budget
The fiscal 2024 budget proposal leans on federal funds, better-than-expected tax collections, and a drawdown on reserves to bankroll a wide array of capital work and a boost to state employee salaries.
Read MoreNew Jersey Senate Committee approves corporate business tax overhaul
The bill includes provisions to reduce the state’s CBT rate and shield some overseas profits from local taxes.
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