Budget Blog

  • The personal income tax is the single largest source of revenue to state governments, representing over 45% of total state general fund revenue in fiscal 2017 according to NASBO’s State Expenditure Report . Forty-one states have a broad-based personal income tax while the other nine states do not. April is typically the month with the highest amount of personal income tax collections. December estimated payments surged – Would April returns give them back? Recent national reports have highlighted the unique surge in state personal income tax revenues this past December. The Rockefeller Institute reported ... More

  • As of July 5, 49 states have enacted a new or revised budget for fiscal 2019. Massachusetts does not currently have a full-year budget for fiscal 2019; however, an interim budget has been passed to fund the state through the end of July. 46 states began fiscal 2019 on July 1 (New York began on April 1, while Texas begins on September 1 and Alabama and Michigan on October 1). Last year, 17 states enacted budgets covering both fiscal 2018 and fiscal 2019. For the most current information on states’ budgets, please visit NASBO’s state-by-state listing of proposed and enacted budgets . Additionally, for summaries ... More

  • Federal Spending Bill Includes Increased Funding for Many Governors’ Priorities On March 23, President Trump signed into law the Consolidated Appropriations Act of 2018 ( P.L. 115-141 ). The $1.3 trillion bill increases spending by $80 billion for defense and $63 billion for non-defense discretionary programs. Many programs that received increased funding under the new federal spending bill, or omnibus, are similar to ones that governors have focused on this year in their State of the State speeches and fiscal 2019 budget proposals . Governors have called for more state spending and proposed new initiatives ... More

  • Recently, NASBO released state-by-state summaries of governors’ budget proposals for fiscal 2019, which reveal much information about state fiscal conditions, spending trends, and gubernatorial priorities. Reviewing executive budget recommendations this session can also provide valuable insights into how states are increasing their use of performance information, evidence and data analytics in funding, management and policy decisions. Governors’ budget proposals this session called for investments in evidence-based programs and evaluation, as well as performance-based budgeting and funding initiatives. Executive ... More

  • On March 29-30, NASBO held our 2018 Spring Meeting in Arizona. The conference focused on federal issues affecting states as well as timely state finance topics. Below are presentations made by the conference speakers. NASBO members can access additional presentations and materials from state participants in the NASBO Member Community . FEDERAL BUDGET UPDATE Trinity Tomsic , Deputy Director, Federal Funds Information for States UPDATE ON STATE PENSION ISSUES Jean-Pierre Aubry , Director of State and Local Research, Center for Retirement Research at Boston College STATE GOVERNMENT DEBT OUTLOOK, ... More