On the latest episode of the Debtwire Municipals Muni Lowdown podcast, Managing Editor Paul Greaves speaks with reporters Deb Pace and Kunal Kamal about fiscal challenges facing states and the debt ceiling, respectively.

Deb Pace kicks off the podcast highlighting those states suffering from precipitous income tax declines. The discussion turns towards those states faced with healthy reserves and debilitating deficits and trying to determine whether to tap a one-time revenue source or cut services to achieve budget balance.

Deb highlights the issues facing California around a concentration in the high-tech industry, vulnerability to stock market decline and options available to balance its budget. Deb concludes her segment by detailing how the State of New York struggles to corral overtime spending due to being short-staffed.

Kunal concludes the podcast by discussing the origins of the debt ceiling, the use of its authorization to create budget policy rather than going through “regular order’ in Congress, and the potential impact on the municipal market.

As reporters for Debtwire Municipals, Kunal Kamal covers stadium finance, regulatory developments and relevant federal actions affecting the municipal market, while Deb Pace covers transportation and tax-backed credits in the State of Illinois.

#states #finances #muniland