State and Local Budget Crises Worsen as Extraordinary Revenues Fade

Florida's official outlook moves from a $7.1B FY2027–28 surplus to a projected $1.02B FY2029–30 deficit, while Nebraska faces repeated roughly $200M-plus holes. Chicago, Philadelphia schools, transit agencies, Michigan City, Aurora, Parma, D.C., Oakland Unified, Columbus City Schools, Austin ISD, and others face recurring gaps, forcing tax increases, reserve drawdowns, service cuts, or state-backed borrowing.

Sources (7)

Updated Sep 20, 2026

U.S. Fiscal Risk Digest

State and Local Budget Crises Worsen as Extraordinary Revenues Fade

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