state budgets

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Fed Dollars Overtake Taxes as States' Top Income Source

Federal money exceeds revenue from major taxes for first time ever

(Newser) - For the first time, state governments are receiving more money directly from the federal government than they collect in sales, property, and income taxes, reports USA Today. As the economic downturn saps tax revenue, stimulus money has filled the gap. Says an analyst, “This has more to say about...

States Ax Programs for Elderly, Kids

(Newser) - States are slashing social services across the US, crippling programs for children and the elderly that might save money in the long run, the New York Times reports. Barack Obama's $787 billion stimulus plan is easing the pain by helping low earners, but at least 34 states are cutting aid...

Cash-Strapped States Raise Taxes as Revenue Declines

At least 10 states face substantial budget gaps

(Newser) - A precipitous decline in tax revenue has at least 10 states considering major increases in sales or income taxes to close budget gaps that in some cases run into the billions, the Wall Street Journal reports. States like Oregon, facing a $4.4 billion budget gap and 10.8% unemployment,...

Blago Gave Illinois Transit Bosses Last-Minute Raises

(Newser) - Even as Illinois budget deficit soared, a dozen Department of Transportation officials got raises in the waning days of Rod Blagojevich’s administration, the AP reports. The raises, which averaged about $6,000 a year, came on top of standard cost-of-living increases, and without any change in the officials’ titles....

Calif. Legislator Wants to Tax, Legalize Pot

Knows 'jokes coming,' but says his broke state could net $1B

(Newser) - A California lawmaker thinks he has a solution for the state’s fiscal woes: Tax marijuana. Assemblyman Tom Ammiano has introduced a bill that would legalize, regulate, and tax pot, treating the drug like alcohol or tobacco, the Los Angeles Times reports. “I know the jokes are going to...

GOP Guvs Right to See Stimulus Cash as 'Trap'
GOP Guvs Right to See Stimulus Cash as 'Trap'
OPINION
Feb 23, 2009 8:40 AM CST

GOP Guvs Right to See Stimulus Cash as 'Trap'

Say law is a 'budget trap' that will hook them on more spending

(Newser) - Five Republican governors are threatening to turn down much of their stimulus windfall, afraid of taking addictive doses of spending on education, welfare, and health care that the states would have to shoulder in 2011 and beyond. And they're right to worry, the Wall Street Journal says. Take enrolling new...

California Has a Budget, but Trouble Looms in May

Critics say another crisis looms

(Newser) - California's budget fight is officially over. For now. Arnold Schwarzenegger signed into law yesterday a budget package that closes the state's $41 billion shortfall, but not before making $1 billion in line-item trims. The governor cut personnel budgets for state officials by 10%, $400 million in prison funding, and $510...

Obama to Mayors: Use Stimulus Cash Wisely

Officials can't betray the public's trust, president says

(Newser) - President Obama says the $787 billion economic package will help struggling cities, but both Washington and the mayors have a responsibility to spend the money wisely. "We have asked for the unprecedented trust of the American people to deal boldly with the greatest economic crisis we have seen in...

California OKs Long-Delayed Budget
 California OKs 
 Long-Delayed Budget 
update
Feb 19, 2009 9:43 AM CST

California OKs Long-Delayed Budget

Dems make big last-minute concessions

(Newser) - The California Assembly quickly stamped its approval on a state budget passed by the Senate early this morning, ending a 3-month budget deadlock. The final Republican vote needed to pass the bill came with steep concessions, though billions of dollars in tax hikes and program cuts remain intact, the Los ...

Fla. Gun Requests Spike in Recession

Jump attributed to burglary fears

(Newser) - Floridians are arming themselves, literally, against the recession and fears of being burgled. There's been a 42% jump in concealed weapons permit requests in the past 45 days, and the state office that issues them is buried under a 95,000-application backlog. It's seeking a $4 million budget transfer to...

GOP Guvs Break With Party on Obama Stimulus

Desperate for cash, they embrace measure DC counterparts spurn

(Newser) - Barack Obama’s relationship with DC Republicans is on the rocks, but he couldn’t be getting along better with GOP governors, reports the New York Times. Why? Follow the money. Struggling to balance their budgets, the governors don’t care which party help comes from. “The essence of...

Calif. Can't Settle Budget; Guv Will Begin 20K Layoffs

Remaining state public-works projects to be stopped

(Newser) - California’s legislature couldn’t agree on a budget by the time it adjourned last night, so even as legislators trudge back to negotiate this morning, Gov. Arnold Schwarzenegger will begin proceedings to lay off 20,000 government workers and halt the 275 state-funded public works projects still in action,...

Mayors, Guvs Jockey for Piece of Stimulus Pie

Many have budgets on hold until plan is finalized

(Newser) - As the stimulus bill becomes law this week, state officials across the country are competing for their share of federal largess, the New York Times reports. Complex rules govern how money is doled out, and states are still catching up. “This is all rather daunting,” said the director...

Calif. State Workers Take Forced Day Off

200K at DMV, other agencies stay home amid budget crunch

(Newser) - Californians looking to renew a driver’s license today will be disappointed, as 200,000 state employees take their first forced day off. Gov. Arnold Schwarzenegger says the two mandatory unpaid vacation days per month—a 9% pay cut—is a budget necessity. But many Californians are confused about which...

Wall Street Bonuses Fall 44%
 Wall Street Bonuses Fall 44% 
Jan 28, 2009 4:58 PM CST

Wall Street Bonuses Fall 44%

State may lose $1B in tax revenue

(Newser) - Wall Street firms still dished out end-of-year bonuses in 2008, but they were a lot smaller. Cash bonuses fell 44% from the year prior, from a total of $33 billion to $18 billion, Reuters reports. That drop may take $1 billion in tax revenue from New York state, which is...

Struggling Ohio Gets in Line for Federal Help

Governor seeks $5B from stimulus, says he's not 'crying wolf'

(Newser) - Ted Strickland recently put in a call to Rahm Emanuel, Barack Obama’s incoming chief of staff. “Rahm, it’s Ted,” the Ohio governor said. “You’ve never failed me, and I need $5 billion.” Such is the desperation in Ohio, one of many states seeking...

California Workers Sue Governator
California Workers Sue Governator
Dec 23, 2008 9:54 AM CST

California Workers Sue Governator

Unions challenge furloughs as state runs out of cash

(Newser) - Unions representing California state employees are suing Arnold Schwarzenegger over his attempt to force them to take unpaid time off, the Los Angeles Times reports. Schwarzenegger issued an executive order last week ordering all employees to take two unpaid days off each month, in an effort to corral the state...

Cash-Squeezed States Warn of Collapsing Infrastructure

Fed stimulus eyed as municipal bonds wither

(Newser) - Thousands of infrastructure projects across the country are on hold as states wrestle with budget crises, the New York Times reports. Gov. Arnold Schwarzenegger warned yesterday that California was “on a track toward disaster" as school, bridge, and road construction projects ceased, the victims of the credit squeeze and...

States Running Out of Cash for Jobless Benefits

Many cut taxes, weren't prepare for down turn

(Newser) - The ranks of the unemployed reached their highest levels since 1982 last week, and about 30 states are running out of money to fund them, the New York Times reports. Some states, including Indiana and Michigan, are already borrowing heavily from the federal government to keep up with jobless benefits,...

Stories 41 - 59 | << Prev