As state budgets tighten, the typical governor’s budget proposed spending only 1.1% more to fund state government in Fiscal Year 2025, the National Association of State Budget Officers’s latest survey of state budget officials found.
States are returning to a budget environment in which new money is limited, tax collections are performing close to revenue forecasts, and rainy-day funds are on track for modest growth, said Kathryn White, director of budget process studies at NASBO.
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