Finance

Tax Incentives Fail to Spur Broad Economic Growth, Study Finds

Researchers analyzed state and local governments tax incentive spending, finding little evidence that the deals spurred job growth outside the specific industry implicated.

Pension Cuts May Pose Special Risks For Public Workers Not Covered by Social Security

About 5 million state and local workers are outside of the federal retirement program.

Big Cities Mostly Prepared to Weather Next Recession, Report Says

Chicago and Detroit are outliers, least able to withstand a recession, among the big cities examined by Moody's, which looked at how prepared cities are when a downturn comes.

Cities and States Look to Tap More Tax Revenue From Expensive Real Estate Sales

“It basically allows for luxury housing to pay for affordable housing,” said a Boston city council member describing a "transfer" tax proposal there.

Over 40% of Consumers in Some States Have Delinquent Household Debt, Data Indicate

Financial stress from debt has subsided somewhat since the Great Recession, but remains high in some places. New data provides insight into how it looks at the state and county level.

Democrats, White House Make a Deal on the New NAFTA

House Speaker Nancy Pelosi announced a deal Tuesday on the United States-Mexico-Canada Agreement.

This State Found $117,000 in Double Payments Through Data Analytics

Ohio developed a tool to review all state agencies’ payment transactions from January through September and found 56 duplicate payments worth more than $117,000.

Why One City is Prioritizing Financial Empowerment

St. Paul, Minnesota created a city office that aims to lift up residents who are struggling the most, while also addressing the ways city penalties might be keeping them down.

Turning Gray and Into the Red: The True Cost of Growing Old in America

COMMENTARY | Too many people enter retirement without financial security.

In a Booming State, Lawmakers Face a Looming Transportation Cut

“My focus is going to be about doing the best job of spreading the pain,” said one Washington state lawmaker, describing what lies ahead in an upcoming legislative session.

The Troubling Decline in City Revenue Growth

COMMENTARY | The economy continues to grow, yet cities anticipate revenue problems. How can both be true?

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With Overall State Spending Up, Transportation Sees Notable Gains

At least 18 states raised spending on transportation programs by 10% or more in fiscal 2019, based on estimates in a new report.

Half of Americans Dealing With Civil Law Problems, Survey Finds

A quarter of respondents described two or more circumstances that had the potential to land them in court over a year's time, for issues like overdue debts, child custody disputes and evictions.

States Hold Onto Federal Dollars Meant for Needy Families

One state has $732 million not being spent to help needy families.

A State Braces for Major Transportation Funding Cuts As Ballot Measure Nears Passage

Seattle area officials are vowing to sue over the Washington state initiative, which seeks to limit vehicle registration fees to $30 and impose new restrictions on taxes.

The Imperfect Art of Tracking Local Government Financial Stress

California is the latest state to launch a program to shed light on the financial conditions in localities. Systems like this can have benefits, but also limitations.

How Residents' Financial Health Can Affect City Budgets

Missed utility bills and services for the homeless can cost cities millions of dollars per year, experts said Thursday at the Urban Institute. One solution: Figure out how to help people improve their financial health.

Big City Finance Officials See Recession on the Horizon

That’s one of the notable findings in a new survey of over 500 city finance officers.

California Local Governments Gain a Pathway to Establish Public Banks

Cities and counties would be able to create up to 10 public banks where governments could deposit money under a bill the state's governor signed into law this week.

Legal Challenge Over $14 Billion in State Debt Is Sidelined For Now

A judge has blocked the Illinois case from proceeding, but the think tank CEO who brought it says he plans to appeal.