More Budgets and Deficits Articles

  • Davis proposes postponing future Kansas tax cuts

    TOPEKA, Kan. (AP) — The presumed Democratic nominee for Kansas governor said Monday that if elected, he will pursue a big increase in education spending and a postponement of scheduled income tax cuts in an effort to improve the state economy. Kansas House Minority Leader Paul Davis said he...

  • Pension agency says plans for 1.5 million at risk

    WASHINGTON (AP) — Despite an improving U.S. economy, retirement plans covering roughly 1.5 million workers are severely underfunded, threatening benefit cuts for current and future retirees, a federal watchdog agency warned Monday. The Pension Benefit Guaranty Corporation (PBGC) said...

  • Quinn makes minor cuts to $35.7B Illinois budget

    CHICAGO (AP) — Gov. Pat Quinn on Monday largely approved a 2015 state budget he has criticized as "incomplete" for not extending a temporary income tax increase, setting off another back-and-forth with his Republican rival over how best to fix Illinois' huge financial problems. The Chicago...

  • Casino revenue included in Massachusetts budget

    BOSTON (AP) — Anti-casino activists are calling on lawmakers to exclude about $73 million in casino licensing and slot parlor revenue from the state budget they are set to finalize this week. Repeal the Casino Deal chairman John Ribeiro said in a statement on Monday the "phantom" revenue won't...

  • Lump sum repayments approved in Detroit bankruptcy

    DETROIT (AP) — Detroit retirees will be allowed to repay generous annuity returns with a lump sum in the city's bankruptcy case. A single payment could be cheaper than stretching it over time. The city is proposing to recover as much as 20 percent of the money paid between 2003 and 2013....

  • Illinois releases 5-year economic blueprint

    CHAMPAIGN, Ill. (AP) — The state agency in charge of helping improve Illinois' economy released a five-year plan on Monday that it hopes will create a good environment for business growth and prosperity. The plan is required under a state law passed last year, part of an effort to build up a...

  • Rauner: Budget signed by Quinn is 'broken'

    CHICAGO (AP) — Republican gubernatorial candidate Bruce Rauner (ROW'-nur) says the spending plan Gov. Pat Quinn has signed into law is a "broken budget." In a statement Monday, Rauner says there should be structural reforms to "shake up" the way Springfield does business. Rauner has released...

  • Chris Christie veto expected on New Jersey budget

    Gov. Chris Christie is expected to sign a state budget, but not before doing major surgery to it with line-item vetoes.

  • GOP's patchwork $29.1b budget in Pennsylvania speeds toward votes

    A $29.1 billion Pennsylvania state government budget plan held together by a patchwork of cash diversions and other maneuvers was poised for its first floor votes Monday, the last day of the fiscal year after a rocky spring session for Republican majorities.

  • Random observations on Sunday morning

    Chris Edwards of the Cato Institute has launched a great new tool for understanding federal spending trends since 1970. It's the "Make Your Own Spending Chart" interactive on downsizinggovernment.org. You just check whichever federal department you want to graph and it appears on the chart...

  • There is a way out for states trapped in the pension sinkhole

    Under "defined benefit" retirement programs, public employees have been promised more money than states can ever afford to pay.

  • VIDEO: Marco Rubio touts his plan to turn around economy

    With the news Wednesday morning that the economy shrank by 2.9 percent in the first three months of 2014, Sen. Marco Rubio, R-Fla., tackled issues he believes will help turn those numbers around.

  • Missouri governor vetoes, freezes $1b of spending

    Missouri Gov. Jay Nixon vetoed or froze more than $1.1 billion in spending Tuesday, citing concerns about declining revenues and the potential for new tax breaks to drain state dollars even further.

  • House panel approves $29.1b GOP budget plan for Pennsylvania

    Republicans on the Pennsylvania House Appropriations Committee on Tuesday approved a spending blueprint that would hold the line on taxes, but would scale back increases for education and human services proposed by Gov. Tom Corbett while relying heavily on the unlikely sell-off of the state's...

  • Judge to hear arguments over pension contributions

    A judge is set to hear arguments over New Jersey Gov. Chris Christie's plan to use pension payments to balance the budget.



From the Weekly Standard