Financial State of the States 2022

OCTOBER 24, 2022

This year's report found that 31 states did not have enough money to pay all of their bills.

City Combined Taxpayer Burden Report 2022

MAY 24, 2022

Did you know that many cities, such as Chicago and Los Angeles, do not include the financial information of their school districts and other underlying entities in their financial reports and budgets? The result is taxpayers are on the hook for far more debt than they know. To provide a more complete picture of the 10 most populous U.S. cities including their largest underlying government units, Truth in Accounting has released its annual City Combined Taxpayer Burden report.

Treasury bullies Arizona on masks and federal money

JANUARY 25, 2022 | THE WALL STREET JOURNAL | by Editorial

Editorial, includes “President Biden said recently that there’s no federal solution to Covid-19, but his Administration acts like it wants to impose one. It has launched civil-rights investigations of states that bar school mask mandates. It has also sought to withhold federal transportation funds from states that reform public pensions. Arizona is doing every state, and the cause of federalism, a service by challenging this bullying.”

New study measures financial transparency among state governments

NOVEMBER 16, 2021


Financial Transparency Score 2021

NOVEMBER 16, 2021

To encourage the publication of transparent and accurate government financial information, Truth in Accounting has created a transparency score for financial reporting by the states. 

Majority of state finances worsened during beginning of pandemic

SEPTEMBER 28, 2021


Financial State of the States 2021

SEPTEMBER 28, 2021

Truth in Accounting's twelfth annual Financial State of the States report, a nationwide analysis of the most recent state government financial information.

Building away from Taxpayer Burdens

SEPTEMBER 9, 2021 | NORTH CAROLINA PATCH | by Joshua Terry

By TIA intern Joshua Terry, whose last day is today (Thanks for all the great hard work, Josh!) includes “… Arizona, Florida, North Carolina, and Texas have smaller Taxpayer Burdens compared to New York, California, and Illinois. There certainly may be other factors at play here, as Texas isn't too far off of New York or even California with its Taxpayer Burden.”

New York, California, and Illinois lose Boomer population

AUGUST 3, 2021 | by Joshua Terry

Earlier last month, the IRS released the 2019 migration data for adjusted gross income (AGI) that showed a departure in the billions of dollars of taxable income from New York, California, and Illinois. These three states experienced the most outflow of AGI in 2019, while Florida, Texas, and Arizona gained the most AGI. The IRS included a breakdown of this migration by age group:.

Arizona state Democrats block debate over budget, tax-cut plan

JUNE 23, 2021 | THE HILL | by Jordan Williams

By Jordan Williams, includes “… The statement faulted the budgetary proposal for not reflecting Democratic input, and said it ‘retaliates against teachers and voters because of the 2020 presidential election.’ … The budget includes tax cuts that Democrats have said will help special interests. Democrats had also worried about the budget's effects on education and schools.”

Arizona Senate passes budget, tax cut after House Democrats walk

JUNE 23, 2021 | KSTAR NEWS 92.3-FM (ARIZONA) | by Editorial

AP story, includes “…But the Senate plowed ahead, working until 2:30 a.m. Wednesday to pass the 11 bills including the tax cut. Lawmakers also unveiled and approved a raft of policy changes that include a massive expansion of the state’s private school voucher program.”

Arizona teachers overwhelmingly oppose proposed state budget

JUNE 22, 2021 | KTAR-FM NEWS (ARIZONA) | by Griselda Zetino

By Griselda Zetino, includes “As state budget talks resume this week, a new survey shows Arizona teachers strongly oppose the proposed budget and feel it leaves money on the table that could otherwise go toward public schools. … Thomas added 89% of teachers are against the tax cuts proposed in the state budget. He said they feel it would drain billions from state revenue that could be used to cover various educational needs.”

Advocates push wide-ranging new Arizona school voucher bill

FEBRUARY 4, 2021 | THE ASSOCIATED PRESS | by Bob Christie

By Bob Christie, includes “Advocates of using public money for private education are pushing a wide-ranging new school voucher program that would vastly expand Arizona’s current system just two years after state voters overwhelmingly rejected a universal voucher system. ”

Tucson, Arizona will place $659 million bet on pension borrowing

JANUARY 26, 2021 | THE BOND BUYER | by Richard Williamson

Tucson, Arizona, plans to leverage low interest rates in a bull market to turn about half of its unfunded public safety pension fund obligations into bond obligations. 

The high-tax end run around the Arizona constitution

DECEMBER 14, 2020 | THE WALL STREET JOURNAL | by Dan Quayle, John Kyl

Much of the dust has settled from the 2020 election, but in Arizona one legal battle is just beginning. It’s a fight over the largest tax increase in the state’s history, and it’s a cautionary tale for the rest of the country—or at least for those who care about protecting their states from an onslaught of job-killing progressive policies.

Arizona Public Safety Personnel Retirement System solvency analysis

OCTOBER 29, 2020 | REASON FOUNDATION | by Leonard Gilroy, Zachary Christensen, Steven Gassenberger

Four years after the Arizona Public Safety Retirement System (PSPRS) adopted major stakeholder-driven reforms to stem a precipitous increase in unfunded pension liabilities resulting from faulty plan design, the system now appears to be on a sustainable financial trajectory, according to a new stress test analysis prepared by the Pension Integrity Project at Reason Foundation.

Thirty-nine states ill-prepared for coronavirus pandemic

SEPTEMBER 22, 2020

The 2020 Financial State of the States report surveys the fiscal health of the 50 states prior to the coronavirus pandemic. This data is released today by Truth in Accounting (TIA), a think tank that analyzes government financial reporting.

State general revenue shortfall projections

JUNE 1, 2020 | by Bill Bergman, Sheila Weinberg

How large could the shortfall in state government general revenues be, amidst the coronavirus and related crises? 

More bailouts?

MAY 22, 2020 | ARIZONA DAILY STAR | by Matthew Scully

Currently, some states and cities, most of which have gone on for years spending every dollar they could get their hands on, are now asking the Feds ( I.E taxpayers ) to bail them out.

A response to the city of Phoenix's 'invalid' claim

FEBRUARY 10, 2020 | by Sheila Weinberg

Includes "Pension debt is similar to credit card debt, not a mortgage, because it is debt accumulated to cover costs that have already been incurred. Evidently Phoenix has a plan to pay the pension debt off over the next 22 years, but this does not negate the fact that this debt exists today. To explain this concept on a personal level, someone who plans to pay off a credit card balance over time by paying the minimum payments still has outstanding credit card debt now." 

1  2  3  4