The state doesn't expect any short-term borrowing to cover the current fiscal year, Gov. Ned Lamont said.
Sales taxes are a pillar of the Texas state budget, and the usually stable revenue source has taken a hit from the COVID-19 pandemic.
Phil Murphy is developing an emergency borrowing plan to combat revenue loss amid the coronavirus pandemic.
Illinois has spent about $170 million on coronavirus-related expenses so far, and Gov. J.B. Pritzker said more information on the budget impact is coming.
Fitch follows Moody's in revising the Empire State's debt to negative from stable.
Moody’s revised its outlook on Illinois’ Baa3 rating to negative from stable; a university study warns of a worst-case $28 billion multi-year revenue hit.
May is when budget talks usually get serious in California, which has a budget highly dependent on income and capital gains taxes.
New York’s new state budget provides flexibility to deal with near-term revenue hits from COVID-19, but it has little bandwidth to withstand a deep recession.
The deal to buy 200 million masks a month will help California's medical workers while pressuring its state budget.
The worst is yet to come from the coronavirus pandemic, said the commonwealth's revenue secretary, Dan Hassell.