WASHINGTON, Jan 17 (Reuters) – The fiscal gloom hanging over
U.S. cities and local governments will lift slightly in 2013 as
the pace of spending cuts slows, according to an economic
assessment presented on Thursday to a mayors’ conference in the
Real state and local government spending will decline by 0.5
percent this year, compared to a 1.3 percent drop in 2012, said
James Diffley, director of regional economics for IHS Global
WASHINGTON (Reuters) – More than two weeks after lawmakers reached a budget deal that preserved the tax exemption on the interest paid on municipal bonds, mayors from across the country remain worried the exemption could be at risk.
Muni bonds are critical to local governments, as they are used to fund project ranging from bridges to schools to hospitals.
WASHINGTON, Jan 17 (Reuters) – More than two weeks after
U.S. lawmakers reached a budget deal that preserved the tax
exemption on the interest paid on municipal bonds, mayors from
across the country remain worried the exemption could be at
Muni bonds are critical to local governments, as they are
used to fund project ranging from bridges to schools to
WASHINGTON, Jan 17 (Reuters) – A report by a panel of
experts released on Thursday questioned whether the U.S.
government’s food stamp program adequately provides for healthy
diets for the more than 47 million low-income people who rely on
The report by the National Academy of Sciences found that
the aid for families to pay for groceries, officially called the
Supplemental Nutrition Assistance Program or SNAP, does not
factor in many barriers to finding affordable, nutritious food
by inner-city shoppers.
WASHINGTON, Jan 15 (Reuters) – States are not alone in
racking up massive public pension bills: U.S. cities need
hundreds of billions of dollars to make good on their promises
of retirement healthcare and income to workers.
The Pew Center on the States surveyed 61 cities – the most
populous ones in each of the 50 states, along with those of
populations greater than 500,000 – and found a gap of $217
billion for all retiree promises in fiscal 2009. For pensions
alone, they were short $99 billion.
WASHINGTON, Jan 15 (Reuters) – The natural gas boom has
brought fortune to Wyoming over the last year and lifted its
revenues beyond expectations, but in his state of the state
address last week, Governor Matt Mead pressed legislators to
cut spending by 6 percent.
Almost all U.S. states, including long-suffering California,
are in a position unthinkable just a few years ago: their
revenues are growing, and some are even running surpluses. But
governors are hesitant to use their states’ windfalls for
spending sprees or massive tax cuts.
WASHINGTON (Reuters) – Local U.S. governments cut jobs for the fourth straight month in December, including 11,000 in public schools, dragging down the nation’s fragile economic recovery, jobs data showed on Friday.
Local government jobs are now at their lowest level since October 2005, with the bulk of the decline coming from layoffs of teachers and other school employees, according to the Labor Department.
WASHINGTON, Dec 21 (Reuters) – Thirteen years ago the band
The Magnetic Fields crooned that the U.S. capital city is “the
greatest place to be,” in the indie love song “Washington, D.C.”
Recently, a growing number of Americans are singing along as
they move to the District in search of jobs, economic
opportunity and cultural attractions.
WASHINGTON (Reuters) – Across the United States, the number of hungry and homeless people is growing, and budget fights at the federal level are threatening the aid many need to survive, the U.S. Conference of Mayors said on Thursday.
Amidst the holiday season of family feasts and corporate dinners, the mayors released a report that found requests for emergency food assistance rose in 21 out of the 25 cities it surveyed in 2012 and remained at the same level in three. More than half the cities said homelessness increased.
WASHINGTON (Reuters) – A recent deal with tobacco companies will distribute money to 17 states that has been tied up for years, but the funds may only provide short-term relief to underfunded tobacco bonds.
Cigarette makers including Philip Morris USA and R.J. Reynolds Tobacco Co announced this week a settlement with the states in a long-running dispute over the amount of payments they are required to make under the 1998 landmark anti-smoking agreement. On Wednesday, prices for long tobacco bonds rose following news of the settlement.