Truth in Accounting: ‘California is unusually delayed in issuing its annual financial report’

October 27, 2020 | Southern California Record

The state of California was recently crowned with the Tortoise Award for the slow publication of its Comprehensive Annual Financial Report (CAFR). 

ITR president: Iowa was ready for COVID-19 fiscal crisis

October 27, 2020 | Hawkeye Reporter

Truth in Accounting has released the 11th edition of its Financial State of the States and it ranks Iowa’s financial condition the nation’s 10th best.

Coming up: The outlook for US state and local government with Bill Bergman

October 26, 2020 | Solari Report

This week on The Solari Report, economist Bill Bergman, Research Director of Truth in Accounting, joins me for discussion of Truth in Accounting’s new report The Financial State of the States 2020.

And then what? Reforms beyond the current budget

October 23, 2020 | Commonwealth Foundation (Pennsylvania)

A balanced budget, defined as equality between cash in and cash out from the general fund, is the absolute minimum for fiscal stability. It is legally required, but it is not sufficient for fiscal soundness and resiliency. 

How about, for once, a Chicago budget free of gimmicks?

October 22, 2020 | Chicago Sun-Times

The script for the Chicago budget season is well known. The budget office announces the umpteenth annual new and unexpected budget crises.

California Governor Gavin Newsom receives TIA award

October 22, 2020 | Economic Policy Journal

In other words, it is completely unclear what is the state of California's finances. 

Top Illinois taxpayers could pay close to 60% marginal tax rates

October 21, 2020 | Freeport News Network

Some Illinois taxpayers could be paying nearly 60 percent combined federal and state marginal tax rates if Joe Biden is elected president and Illinois voters approve the graduated income tax. That’s according to the nonpartisan Tax Foundation.

Democrat-run Chicago broke as Mayor mulls tax hikes and layoffs to plug $1.2 billion budget gap

October 20, 2020 | Zero Hedge

Naturally the response to what some are already excusing as the city’s "coronavirus-fueled budget deficit" is for Mayor Lori Lightfoot to immediately talk massive tax hikes to plug the hole.

Chicago mayor considering tax hikes to plug $1.2 billion budget hole

October 19, 2020 | Fox News

Chicago Mayor Lori Lightfoot is considering tax hikes to help plug the city’s $1.2 billion budget deficit, according to a report.

'Hard choices:’ Pa. got a ‘D’ grade for its fiscal health, leading budget hawks to call for reforms

October 16, 2020 | The PLS Reporte

A new report ranked Pennsylvania 38th in the nation in managing its total debt load, giving the state a “D” grade for its overall fiscal health. 

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