Economy & Business news Subcribe to Economy & Business news |
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By Kimberly Leonard, Special to Stateline.org
States are digging into their federal stimulus money to help finance community colleges, where rising tuition, soaring enrollment and budget cuts threaten to shut students out of the system.
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By John Gramlich, Stateline.org Staff Writer
States are spending too much stimulus money on new road construction and not enough on public transit projects, a national advocacy group claims in a report issued Monday (June 29). Meanwhile, Michigan and California consider teaming up to solve their prison problems and North Carolina and Rhode Island face off with Amazon.com over taxes.
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CA: State IOUs loom as foes' battle lines harden
By Michael Rothfeld and Shane Goldmacher, Los Angeles Times
After trying for weeks to fix a state budget gone out of control, Gov. Arnold Schwarzenegger and state lawmakers stood frozen in conflict Wednesday with the state at the brink of a meltdown.
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DE: Budget is done, but sniping isn't
By J.L. Miller, The News Journal (New Castle-Wilmington)
A bleary-eyed Gov. Jack Markell signed a package of tax increases, spending reductions and an employee furlough plan into law just before sunrise Wednesday, but not before blasting Republicans for what he called their lack of "bipartisan cooperation" in helping resolve the historic revenue shortfall.
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AL: 123,046 in Alabama still waiting for tax refunds
By Phillip Rawls, The Associated Press, Montgomery Advertiser
The longest U.S. recession since World War II has caused Alabama's tax collections to plummet so badly that more than 120,000 taxpayers are having to wait for their state income tax refunds.
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AR: Lottery Commission votes to join Powerball
By John Lyon, Arkansas News Bureau
The Arkansas Lottery Commission voted unanimously Wednesday to join the multi-state Powerball games, tickets for which may go on sale in the state as soon as this year, the state's lottery director said.
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AZ: Brewer rips budget, calls special session
By Dan Nowicki, The Arizona Republic (Phoenix)
Under the pressure of a looming government shutdown, Arizona lawmakers struggled with political angst, sleep deprivation, hurt feelings and growing distrust as they completed last-minute work on a budget that would keep the doors to state offices open even as the doors to the Arizona Senate were briefly locked.
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CA: State IOUs to bring uncertainty
By James P. Sweeney, The San Diego Union-Tribune
For only the second time since the Great Depression, California prepared yesterday to start paying bills with IOUs as likely recipients braced for the fiscal uncertainty ahead.
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CA: Schwarzenegger hopes IOUs sway budget debate
By Kevin Yamamura, The Sacramento Bee
If the stigma of issuing IOUs triggers a budget deal in the coming days, Gov. Arnold Schwarzenegger might find redemption in his strategy of quashing a stopgap solution that would have avoided those non-cash payments.
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HI: Veto of Hawaii excise tax on online retailers likely to stand
By Derrick DePledge, The Honolulu Advertiser
Gov. Linda Lingle's veto yesterday of a bill that would apply the state's general excise tax to Mainland retailers with Internet links to Hawai'i will likely stand, after state lawmakers said they will not attempt an override because of a technical flaw.
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IA: Creighton survey sees positive growth in Iowa economy
By Karla James, Radio Iowa
The latest economic survey of business leaders and supply managers across Iowa and the Midwest region shows improvement. Creighton University economist Ernie Goss compiles the numbers each month and says for the first time since September, we're seeing positive growth.
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IA: Iowa residents join other states with the right to sue
By O. Kay Henderson, Radio Iowa
Iowa is joining the rest of the nation in giving individual citizens the right to sue in consumer fraud cases. The new law took effect yesterday, July 1st, and Iowa Attorney General Tom Miller says it replaces a law that originated in the Middle Ages.
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IA: Iowa dips into savings to balance its budget
By Jason Clayworth, The Des Moines Register
Vastly different estimates were released Wednesday on how Iowa ended its fiscal year this week, but all projections indicate that Gov. Chet Culver will have to use cash reserves to balance the state budget.
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IL: Tax increase showdown set in Springfield
By John Patterson, Daily Herald (Arlington Heights)
Setting up a showdown over tax increases, Gov. Pat Quinn on Wednesday vetoed part of the state budget lawmakers had approved, saying it would have forced "disgraceful and shameful" cuts to Illinoisans who need state help the most.
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IL: Illinois starts its fiscal year with a veto
By Rick Pearson and Ray Long, Chicago Tribune
The state's new budget year got off to a politically dubious start Wednesday when Gov. Pat Quinn vetoed what he called an inadequate plan to fund human-services programs and vowed a renewed push for an income tax increase.
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IL: Parents fear loss of child care in budget impasse
By Pete Sherman, The State Journal-Register (Springfield)
RIVERTON — About five years ago, Molly Neal took custody of two grandchildren. One reason she did was that the state of Illinois would help pay her childcare costs. Today, Neal says, she doesn't know whether the state will keep that promise.
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IL: Quinn vetoes budget; workers will be paid
By Doug Finke, The State Journal-Register (Springfield)
Following through on his threat, Gov. Pat Quinn Wednesday vetoed part of the new state budget, triggering a return to Springfield later this month for lawmakers.
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IN: Governor and key lawmakers tell city to live with CIB plan
By Bill Ruthhart, The Indianapolis Star
Don't even think about coming back to us for any more help. That was the message top state lawmakers and Gov. Mitch Daniels delivered to Indianapolis Mayor Greg Ballard on Wednesday, less than 24 hours after the legislature passed a plan city officials said fails to generate enough revenue to solve the financial woes of the Capital Improvement Board.
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KS: Governor to reveal budget plan
By The Associated Press, The Topeka Capital-Journal
Educators and officials in Kansas are awaiting word from Gov. Mark Parkinson about how he plans to balance the state budget.
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KS: Community colleges sue regents
By The Associated Press, The Topeka Capital-Journal
DODGE CITY, Kan. — Three community colleges have sued the Kansas Board of Regents claiming unequal funding for some of their vocational and technical programs.
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KS: Planned parks budget cuts draw fire
By Brent D. Wistrom, Wichita Eagle
City parks employees, three state representatives and a few others sharply criticized a proposal to privatize parks maintenance Wednesday at a first-of-its kind public discussion about the city's dire budget situation.
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MA: 30 failing schools may face takeover
By James Vaznis, The Boston Globe
The Patrick administration, in a sharp deviation from previous state policy, will seek legislative approval to take over about 30 of the state's worst schools and dramatically weaken their teacher contracts, as part of the governor's effort to overhaul public education.
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MI: Michigan's tourism ad applauded
By Dawson Bell, Detroit Free Press
The Pure Michigan tourism ad campaign has been named one of the 10 best promotional advertising campaigns of all time by the business publication Forbes.com.
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MS: Uninsured health-care ranks rising in Miss.
By Jerry Mitchell, The Clarion-Ledger (Jackson)
In a state the federal government already rates weak in health care, Mississippians are losing health insurance and choosing to either forego treatment or join the uninsured filling waiting rooms at subsidized clinics and emergency rooms.
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NC: Perdue -- Indecision costs $5 million a day
By Mark Johnson, The News & Observer (Raleigh)
Gov. Beverly Perdue urged the legislature Wednesday to agree on a state budget, taking what she called an "in-your-face" approach in warning that North Carolina is missing out on $5 million a day in budget cuts and tax increases.
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NH: NH's books continue to show red ink
By The Associated Press, Foster's Daily Democrat (Dover)
New Hampshire's books continue to bleed red ink. The latest revenue report for June shows the fiscal year ended $292 million below the estimates developed two years ago. Receipts for June were $33 million below estimates, thanks mostly to poor business tax receipts.
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NH: Official -- Contracts will be tough
By Lauren R. Dorgan, Concord Monitor
The state's chief negotiator charged with hammering out a new union contract with state employees said yesterday that he hopes to seal a deal within a week, but it's difficult for the state to offer either long-term promises or contract sweeteners amid an ongoing recession and severe budget crunch.
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NJ: Pact averts layoffs, keeps schools open
By Staff Reports, The Star-Ledger (Newark)
Gov. Jon Corzine has agreed to abandon plans to close 18 regional schools the state operates for students with learning disabilities under the amended contract members of the Communications Workers of America ratified this week.
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NV: Tax increases denounced
By Ed Vogel, Las Vegas Review-Journal
In what seemed like a political campaign message, Gov. Jim Gibbons said Wednesday that the "Buckley/Horsford Tax Increase of 2009" will hurt the Nevada economy and citizens who already are suffering because of the recession.
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NY: $2 million settles kickback
By Andrew McIntosh, The Sacramento Bee
A California financial company on Wednesday agreed to repay $2 million to New York state's giant public pension fund after one of the company's former partners was implicated in paying a kickback to secure investment deals from the fund.
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OH: State explains estimate of slot-machine revenue
By Mark Niquette, The Columbus Dispatch
Senate Republicans plan to grill officials in Gov. Ted Strickland's administration today on how they calculated revenue estimates from proposed electronic slot machines, saying there are more questions than answers.
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OH: Dueling hearings -- slots vs. more cuts
By Mark Niquette, Catherine Candisky and Jim Siegel, The Columbus Dispatch
As Ohio enters its second day with an interim state budget, the political gamesmanship has escalated with dueling hearings today in an increasingly partisan stalemate.
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OK: Business improving in Oklahoma, study finds
By Debbie Blossom, The Oklahoman (Oklahoma City)
For the first time since last December, the state's leading economic indicator showed improvement, a survey of business conditions in Oklahoma and eight other states released Wednesday showed.
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PA: Law requires contractors to register with the state
By Daniel Victor, The Patriot-News (Harrisburg)
When you agree to allow a stranger into your home to perform repairs or upgrades, you better know who they are and what you're getting. A law going into effect today, July 1, intends to better arm consumers against fraud, forcing contractors to register with the state and report any previous wrongdoing.
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PA: Drug company's case reaches top state court
By Staff Reports, Pittsburgh Tribune-Review
The Pennsylvania Supreme Court has agreed to hear legal arguments from a pharmaceutical company about whether a Texas law firm whose founder donated $91,000 to Gov. Ed Rendell's campaign can continue to represent the state in a lawsuit against the drug manufacturer.
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PA: Online game lets citizens decide how to balance the state budget
By Ann Belser, Pittsburgh Post-Gazette
Keystone Progress, a liberal public interest group, has created a computer game giving citizens the (virtual) power to balance the Pennsylvania budget. You can raise income taxes, cut spending on preschool and kindergarten programs (little kids don't vote) and even close corporate tax loopholes without any lobbyists tracking you down.
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PA: Pa. universities fighting for U.S. stimulus funds
By Bill Schackner, Pittsburgh Post-Gazette
Penn State University wants the Obama administration to stop Gov. Ed Rendell from reclassifying it and three other state-related universities as non-public and ineligible for $42 million in federal stimulus aid.
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TN: Tennessee offered GM $20M package
By The Associated Press, The Tennessean (Nashville)
Gov. Phil Bredesen said the state's offer to General Motors to build its new small car at the Spring Hill plant was a $20 million incentive package, and it obviously was not enough.
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TX: Texas Senate passes agencies bill
By Jim Vertuno, The Associated Press, The Austin American-Statesman
The Texas Legislature convened a special session Wednesday and immediately took steps to extend the life of several key state agencies.
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TX: Highlights from the Texas special session
By The Associated Press, The Austin American-Statesman
A special session of the Texas Legislature is in full swing. Lawmakers convened the special session Wednesday and immediately took steps to extend the life of several key state agencies.
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TX: Child support suffers as economy suffers
By Emily Ramshaw, The Dallas Morning News
The faltering national economy is taking its toll on Texas kids. More parents are making their child support payments from unemployment checks and asking judges to lower their financial burdens.
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US: Job market takes turn for worse
By Chris Isidore, CNNMoney.com
NEW YORK -- The battered U.S. labor market took a step backwards last month as employers trimmed more jobs from their payrolls in June, according to a government report Thursday.
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US: State budget woes worsen as deadline arrives
By Deborah Tedford, National Public Radio (Audio)
States across the country got their 2010 fiscal years off to a bumpy start Wednesday, as some faced shutdowns with their budgets in limbo and others braced for deep cuts after passing bare-bones plans to deal with recession-driven revenue shortfalls.
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US: Hiring might not rebound in an economic recovery
By Don Lee, Los Angeles Times
WASHINGTON -- Even as the nation's economy begins clawing its way out of the worst recession in 60 years, there are growing signs that this recovery could come with an unsettling twist: The wheels of commerce may begin to turn again without any substantial boost in jobs.
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US: Pension funds to lead suit against bank
By Reuters, The New York Times
A group of five public pension funds, including state funds in Ohio and Texas, have won the right to lead investor class-action lawsuits against the Bank of America Corporation over its acquisition of Merrill Lynch & Company.
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UT: Utah bars crawl to mark end of liquor restrictions
By Brock Vergakis, The Associated Press, The Daily Herald (Provo)
Bartenders in Utah threw open their doors Wednesday as the state ditched a 40-year-old requirement that customers fill out an application, pay a fee and become a member of a private club before setting foot in a bar.
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VT: N.H. among states hit by E. coli in beef
By The Associated Press, Burlington Free Press
WASHINGTON — At least 12 people, two of them suffering kidney failure, have been hospitalized in connection with a possible E. coli outbreak in beef suspected of having sickened people in nine states, federal health officials said Wednesday.
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VT: Smokers wince at tax increase
By John Briggs, Burlington Free Press
Cigarettes in Vermont cost a quarter more a pack and $2.50 more a carton, and the 6 percent state sales tax applies for the first time to liquor, all the result of legislation that took effect Wednesday. Liquor? No big deal, beverage store proprietors said. Cigarettes? That's another story.
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WA: Aid case increase adds to budget shortfall
By Brad Shannon, The Olympian
More Washington residents will receive Medicaid and children's health assistance in the next two years than earlier forecast, creating a $250 million shortfall in the state's already-strained budget.
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WA: Time to stock up on your favorite liquor
By Olympian staff, The Olympian
State workers are scrambling to fix a distribution problem that has crimped the flow of alcohol to customers across the state, as liquor stores and restaurants are gearing up for one of the busiest weekends of the year.
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Financial crisis torments states
By Stephen C. Fehr, Stateline.org Staff Writer
(Updated 5:25 p.m. EDT, July 1, 2009)
California may begin issuing IOUs this week because of the state’s unresolved budget crisis. But government disruptions were averted at least temporarily in five other states that missed a July 1 deadline for closing billion-dollar budget gaps.
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Furloughs cut into state services
By Pauline Vu, Stateline.org Staff Writer
With states facing a $121 billion shortfall in the next fiscal year, a growing number of them have turned to squeezing their workforce for savings, and effects both great and small will be felt.
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