State Budget, Budget | featured news

California Governor Arnold Schwarzenegger, citing a $25.4 billion budget gap over the next 19 months, declared a fiscal emergency and called lawmakers to a special session next month to begin dealing with the ...

A top California lawmaker said on Friday the state's leaders had reached a final agreement on closing a $19.1 billion deficit to balance the state budget, ending a record stalemate over a spending plan.

State officials are trying to maneuver between saving money through early-release programs and maintaining the public’s sense of safety.

States are looking to the federal government for more help balancing their budgets, but the Senate is not heeding their call.

Faced with a total budget gap of $215 billion for fiscal years 2009 and 2010, most U.S. states looked to their prison and university budgets for relief, according to a report released on Thursday.

Desperate for cash, Arizona state lawmakers are considering selling the House and Senate buildings, then leasing them back over several years before assuming ownership again.

California's Senate approved a package of bills early on Friday morning that would balance the state budget by closing a $26.3 billion shortfall threatening the finances of the government of the most populous U.S. state.

California lawmakers finally sealed a deal with the governor on a plan to close a $26 billion budget gap.

Legislative leaders emerged from late-night budget negotiations Tuesday to announce they were closing in on a final agreement on how to address the state's $26.3-billion deficit.

A pro-marijuana group is launching another television bid to legalize pot in California — this time with the pitch that legalizing and taxing the drug could help solve the state's massive budget deficit.