"In fiscal 2022, 28 states didn’t have enough revenue to pay all of their bills, according to the 14th annual Financial State of the States report, published by the Chicago-based nonprofit Truth in Accounting.
The report provides a comprehensive analysis of the fiscal health of all 50 states based on the latest available data from states’ fiscal year 2022 annual comprehensive financial reports.
New Jersey ranked last for having the worst fiscal health and the greatest taxpayer burden. Not far behind was Connecticut, followed by Illinois, Massachusetts, Hawaii, Kentucky, Delaware, Louisiana, California and Vermont in the bottom ten.
By contrast, 22 states reported surpluses, the majority of which are led by Republican governors."
Now Available
Our annual report on state fiscal health. Debt among the states improved slightly. Going from $1.2 trillion down to $938.6 billion.
What happened?
How did your state do? Read the full report below.
https://www.truthinaccounting.org/news/detail/financial-state-of-the-states-2023
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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.
PRESS RELEASE - FOR IMMEDIATE RELEASE
Truth in Accounting's twelfth annual Financial State of the States report, a nationwide analysis of the most recent state government financial information.
By Sean Dickens, includes “The state of Wyoming has become the first in the US to approve and legally recognise a Decentralised Autonomous Organisation (DAO). … The mission of the American CryptoFed DAO is to create and sustain a monetary system with zero inflation, zero deflation and zero transaction costs.”
Includes “… With Tax Day looming and 74% of people disapproving of how the government has used tax dollars during the COVID-19 pandemic, WalletHub today also released its 2021 Taxpayer Survey … 74% of people say the government has not handled their tax dollars wisely during the COVID-19 pandemic. … 38% of people would move to a different country for a tax-free future.”
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 government will soon experience “profound” budget cuts because of a global pandemic and oil market crash, Gov. Mark Gordon said on Wednesday, though to what degree, when and how they will be applied remain to be seen.
The U.S. job market is so tight that some cities are offering bonuses to employees willing to relocate.
Forty-one U.S. states do not have enough money to pay their bills, collectively they have racked up $1.5 trillion in unfunded liabilities.
Top Interior Department officials worked privately with energy industry representatives during the first weeks of the Trump administration to suspend a new accounting system that would have forced companies to pay millions of dollars more in royalties to the government, documents show.
Got $50,000 laying around you can hand over to the state? Illinois taxpayers owe that much in debt racked up by state government.
Wyoming is lucky to essentially have $4.3 billion in available assets after their bills are deducted,.
By John Spina, includes “State Treasurer Mark Gordon stopped in Jackson last week to lobby for Amendment A, a ballot measure facing voters today.
"Updating these rules would provide Congress with the honest, accurate information necessary to allocate taxpayer dollars responsibly..."
Faced with declining mineral revenues, Gov. Matt Mead wants to “borrow” state savings to help fund local governments, pay for building and road projects, and keep some state-funded programs running.
"...TIA researchers ranked Wyoming as the third best Sunshine State..."