The Williams Report
A look at fiscal headlines from statehouses nationwide
National: Weighing cigarette tax increases
As the article rightly notes, “the use of cigarette taxes to plug budget gaps is bad policy.”
Connecticut: New projection shows state budget in deficit
Legislators must now confront a $78 million shortfall.
Illinois: State poll suggests most residents not affected by budget impasse
Life goes on.
New Jersey: Atlantic City fails to heed budget request as rift grows
The city now faces the prospect of a state takeover.
Virginia: Governor announces state budget cuts, says more may come
The cost-cutting measures are designed to mend a $1.5 billion budget shortfall.
National: Unaccountable and Unaffordable
U.S. states are now facing a $5.6 trillion pension funding hole, according to a new report from State Budget Solutions (SBS), a project of the American Legislative Exchange Council (ALEC) Center for State Fiscal Reform. Unfunded liabilities have increased roughly $900 billion since the last SBS estimate of $4.7 trillion in 2014.
National: More pain ahead for states’ pension plans
Moody’s predicts unfunded pension liabilities will rise 40 percent over the next two years.
National: Will looming state and local government pension crisis bankrupt the U.S.?
Spot-on op-ed from Investor’s Business Daily leans heavily on State Budget Solutions numbers.
National: Will pensions and OPEBs break state and local budgets?
Yes, they will — unless real action is taken forthwith.
Alaska: State moves to sell pension bonds despite S&P warning
Rather than issuing more debt, Alaska should embrace real budgeting reform.
California: At what point is California a lost cause?
Steven Greenhut finds reason for cautious hope.
New Jersey: State pension shortfall amounts to $26,000 for every resident, group claims
The Garden State has the nation’s fourth-worst public pension funding ratio, according to State Budget Solutions’ latest figures.