With pandemic-era aid gone and long-term structural challenges looming, 2026 budget debates will test lawmakers’ ability to balance short-term gaps and future risk.

A key driver of this renewed fiscal stress has been lagging revenue growth relative to nominal GDP growth, compounded by the ...

It seems like just yesterday that Gov. Gavin Newsom and state legislators enacted a state budget that papered over a $20 billion gap between income and outgo while blaming President Donald Trump for ...

Indian states' fiscal deficits are widening slightly, with market borrowing now funding the majority of their needs. Funding ...