News & Analysis as of

Deficit Reduction State and Local Government

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (2/12)

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Civic Federation Says Illinois Should Extend Sales Tax to Services to Help Bridge $3B Budget Deficit - “Illinois should extend its sales tax to services like haircuts, dry cleaning and plumbing, the nonpartisan Civic...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (2/3)

Cozen O'Connor on

Heading into budget season, Gov. JB Pritzker faces major challenge to show ‘Illinois can govern itself’ - “With Gov. JB Pritzker still weighing whether to seek a third term, the firmer foundation he’s laid for Illinois’...more

Brownstein Hyatt Farber Schreck

California State Budget 2025-26

The governor’s 2025-26 budget proposal breaks the cycle of deficits past with a cautiously optimistic projection of a $322.2 million surplus. The source of this modest surplus, which comes as a great surprise to many still...more

Stinson LLP

Minnesota Legislature Adjourns in Seven Days: Bonding Projects Will Dominate Discussions

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After learning that the pandemic has left an approximately $2.4 billion hole in Minnesota's general fund budget, legislators are left with only seven days to complete their work before next Monday's May 18 constitutional...more

Stinson LLP

From Feast to Famine: Minnesota Budget Forecast Projects $2.4 Billion Deficit

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In less than 60 days, Minnesota's state budget has taken a $4 billion hit to its bottom line. Minnesota Management and Budget Commissioner Myron Frans announced today that the global pandemic is responsible for a severe...more

McNees Wallace & Nurick LLC

Tax Anticipation Notes: A Short-Term Cure for the Coronavirus Budget Deficit?

With the onslaught of negative economic news related to the ongoing coronavirus crisis, many municipalities are scrambling to determine the impact of the pandemic on, among other things, their finances. Many may be staring...more

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