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williamsreporthashtagverticalAs a former state legislator, gubernatorial candidate, and official with the General Accountability Office, State Budget Solutions President Bob Williams is a national expert in fiscal and tax policies.  Each week, The Williams Report compiles the latest news and headlines on state budgets, public pensions, and other important news about the budget stability of the states. Bob's exclusive commentary can be tweeted with the hashtag #SBSBob.

Bob's full biography can be found here.


State Budgets

Updates this week:

Michigan: Governor signs bill to prevent $1 billion deficit

New Jersey: Last year's budget shortfall was even worse than Gov. Chris Christie anticipated "A state bond document filed on Sept. 10 showed that the budget shortfall for the last fiscal year was nearly $275 million higher than the $1.3 billion the administration had estimated at the end of June, according to the report."
It is past time for NJ legislators & @GovChristie to stop using budget gimmicks to "balance" budget http://is.gd/Vp7CcG #SBSBob

Vermont: Vermont uses ‘budget shenanigans' to hide $2.6 billion in liabilities

Virginia: Governor, lawmakers announce Va. budget cuts "Virginia Gov. Terry McAuliffe and Republican lawmakers are planning to fill a $882 million budget shortfall by tapping the state government's rainy day fund and making cuts to various agencies, universities, and local governments. The plan won't affect K-12 school spending and will not include any increase in fees or taxes, they said."

Washington: State Supreme Court holds legislature in contempt for not fully funding education
Irresponsible Supreme Ct in WA http://is.gd/HT6HX6 Court lacks power to enforce decision #SBSBob
WA Supreme Ct has no proof that increasing education spending = better education http://is.gd/HT6HX6 #SBSBob
Performance based budgeting for K-12 education urgently needed in WA after terrible Court decision http://is.gd/HT6HX6 #SBSBob

Wisconsin: State budget shortfall projected at $1.8 billion
Wisconsin needs to change its budget system to an performance based outcome budget http://is.gd/3vd464 #SBSBob

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Pensions

Updates this week:

California: Pension spiking to cost CalPERS nearly $800 million says California Controller

CalSTRS debt report drops from $167 billion to $59.5 billion
When will CA Governor, Legislators, and CalPERS wake up to see day of reality for unfunded pensions is now http://is.gd/AmonyS #SBSBob

Illinois: Moody's sees ‘Daunting Pension Challenges' for Illinois
IL Gov. & Legislators keep heads in sand % avoid taking responsible, meaningful budget and pension reform #SBSBob

Missouri: Legislature overrides Governor's budget vetoes

New Jersey: Citing Christie's pension cuts and budget issues, S&P downgrades N.J. debt rating
We have been warning that this would occur http://is.gd/mVaYsT #SBSBob

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