States are planning to idle workers and cut services because federal funding is drying up as a partial U.S. government shutdown extends into a 10th day.
U.S. states are cutting taxes and increasing spending as the improving economy lifts their revenue, marking a recovery from the financial strains that persisted after the recession.
The biggest rally in U.S. state bonds in two years shows investors are betting the governments will weather the federal shutdown and any failure by lawmakers to raise the nation’s debt ceiling.
On paper, Senator Ron Wyden’s idea to resurrect the Build America Bonds program would go a long way toward fixing the nation’s crumbling highways and bridges.
With New York poised for its best credit rating in four decades, Governor Andrew Cuomo is authorizing the most borrowing since 2006 as he boosts investments in schools, roads and health care.
Shaker Heights Mayor Earl Leiken says he wasn’t surprised when voters in the Cleveland suburb, whose services extend to free backyard trash pickup, passed a tax increase to offset state-aid cuts.
U.S. politicians facing budget deficits are gunning for hamlets such as Green Hills , a square- mile Pennsylvania borough with 29 residents that exists to allow alcohol at a golf course.
In statehouses across the U.S., a budget-cutting congressional supercommittee and the sputtering economy threaten a fledgling recovery from the worst fiscal crisis in more than 70 years.
U.S. states reduced spending for a second consecutive year as the longest U.S. recession since the 1930s cut tax revenue, a survey by two associations said.
"They're on the right path."
- Scott Pattison on Dec 08, 2014