That's grown from $9.2 billion. The $16 billion is in projected spending, and that would be more than the money that could come in. Gov. Jerry Brown is expected to talk about the details later today.
Amid gloomy reports of government budget deficits, there was some good news at the National Governors Association meeting in Washington. State tax revenue has been rising at the fastest pace since 2006. Many states are even reporting surpluses.
With Detroit $12 billion in debt, Michigan is about to start a financial review that could result in a state-appointed emergency manager for the city.
The city is asking tax-exempt institutions like universities and hospitals to voluntarily pay more property taxes. Please.
As Michigan's governor attempts to close a budget gap of more than $1 billion, a tax credit for the working poor may disappear, and small businesses might get a break on taxes.
But in Georgia, lobbying leads to exemptions for most services targeted for a tax.
Hundreds of thousands of students will find themselves battling for fewer spots in community colleges. The cutback in classes could ripple through the economy.
The bill is similar to Wisconsin's, but will also weaken the bargaining rights for public sector employees like police and firefighters.
The Motor City lost a quarter of its residents last decade. Detroit's mayor is now scrambling to keep federal and state dollars tied to population from disappearing, too.
Faced with a massive budget shortfall, Texan lawmakers target four rural, community colleges -- sometimes, the only higher education available for hundreds of miles.

More from Local Budgets

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0

California's budget deficit has risen to $16 billion

Monday, May 14, 2012
That's grown from $9.2 billion. The $16 billion is in projected spending, and that would be more than the money that could come in. Gov. Jerry Brown is expected to talk about the details later today.
Posted In: california, budget deficit
0

Tax surpluses for many states

Monday, February 27, 2012
Amid gloomy reports of government budget deficits, there was some good news at the National Governors Association meeting in Washington. State tax revenue has been rising at the fastest pace since 2006. Many states are even reporting surpluses.
Posted In: state budgets
0

Detroit girds for possible state takeover

Monday, December 26, 2011
With Detroit $12 billion in debt, Michigan is about to start a financial review that could result in a state-appointed emergency manager for the city.
Posted In: Detroit
2

Boston tries asking nicely for more taxes

Monday, April 25, 2011
The city is asking tax-exempt institutions like universities and hospitals to voluntarily pay more property taxes. Please.
Posted In: Taxes
1

Michigan rethinks its tax code

Friday, April 22, 2011
As Michigan's governor attempts to close a budget gap of more than $1 billion, a tax credit for the working poor may disappear, and small businesses might get a break on taxes.
Posted In: Taxes
0

States eye levies on services to close shortfalls

Monday, April 11, 2011
But in Georgia, lobbying leads to exemptions for most services targeted for a tax.
5

California budget cuts hit community colleges

Thursday, March 31, 2011
Hundreds of thousands of students will find themselves battling for fewer spots in community colleges. The cutback in classes could ripple through the economy.
Posted In: Education
1

Ohio to vote on anti-union law

Wednesday, March 30, 2011
The bill is similar to Wisconsin's, but will also weaken the bargaining rights for public sector employees like police and firefighters.
1

Detroit's stunning population loss means new budget concerns

Wednesday, March 23, 2011
The Motor City lost a quarter of its residents last decade. Detroit's mayor is now scrambling to keep federal and state dollars tied to population from disappearing, too.
0

Don't show me the money, some in Missouri say

Wednesday, March 9, 2011
Federal stimulus money would make up for state education cuts, but some legislators want to give it back and deal with the budget cuts now, not later.

Most Commented

6

States declaring bankruptcy?

Tuesday, February 1, 2011
Individuals can do it. So can municipalities. But why can't states file for bankruptcy? Want the answer? Just ask the Founding Fathers.
5

California budget cuts hit community colleges

Thursday, March 31, 2011
Hundreds of thousands of students will find themselves battling for fewer spots in community colleges. The cutback in classes could ripple through the economy.
Posted In: Education

Marketplace's coverage of the municipal bond market. With an increasing number of state and local governments struggling with debt and budgets, worries are growing over how the muni market will be able to cope.

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