The NCSL has released its latest report, “State Budget Update: July 2009,” detailing the condition of states’ fiscal health in the year ahead. One of the biggest drivers behind the bipartisan organization’s pessimistic outlook on the rest of FY 2010 and FY 2011, is the rapidly accelerating domino-effect of falling revenue streams for state and local government.
One of the biggest problems concerning tax collection is that the federal government pays people who owe money to state or local government. For those that are responsible for the management of state and local funds – the business of government – this presents a huge problem. But for Arlington County Treasurer Frank O’Leary, it also presents a huge opportunity.
New York State Comptroller Thomas DiNapoli issued a statement Wednesday regarding the fiscal ramifications of the Senate stalemate in Albany. And Wednesday also marked the first payday since he promised to withhold paychecks from all 62 State Senators.