Economics and Finance

According to new data released today by the U.S. Census Bureau, per student spending on public elementary and secondary school systems increased for every state in 2015, except for Arizona where spending decreased by 0.5 percent. Alaska and California lead the pack, with both increasing spending by more than nine percent. Nationally, per student spending was $11,392 in 2015 – a 3.5 percent increase over the previous year – representing the largest year-over-year increase in per student spending since 2008.

Last week President Trump withdrew the United States from the Paris Climate Accord, citing the “draconian financial and economic burdens the agreement poses on our country.” The decision to withdraw from the agreement—a major international treaty to address climate change—is going to have broad policy and environmental impact on the global stage.

Money flowing into states from the federal government—either to individuals or through state and local governments—has a big impact on a state’s economy. In 2015, federal spending made up 19 percent of state economic activity, or gross domestic product (GDP). In five states—Alabama, Mississippi, New Mexico, Virginia and West Virginia—federal spending was 30 percent or more of GDP in 2015.

CSG Midwest
With a rise in the sale of electric vehicles, states lose some of the revenue that they’ve long relied on to pay for transportation projects: taxes on motor fuels.
CSG Midwest
In Minnesota, the chances of a local school district getting the money it wants to build a new facility or improve existing buildings can depend greatly on where it is located:

The president's federal budget was released May 23 and the analysis of winners and losers began practically before the ink was dry, although almost all of Washington seemed to agree the budget was dead on arrival. Cuts to the Medicaid and Children's Health Insurance Program, or CHIP, alone total $616 billion over the next ten years. The budget also envisions saving $250 billion from partly repealing and replacing the 2010 health care law. Taken together, these Medicaid cuts are nearly half the nondefense discretionary funding cuts. To further understand just how important federal Medicaid funds are to states, CSG looked at 2017 federal funding flowing to the states. According to Federal Funds Information for the States, or FFIS, data, the federal Medicaid funding for 2017 is more than 50 percent of all federal grant funds flowing to states in all but four states.

CSG Midwest
A quarter-century has passed since a U.S. Supreme Court decision limited the ability of states to collect taxes from the remote sales of out-of-state retailers. Legislators wanting to secure that taxing authority — which they say is critical to maintaining state revenue bases and helping brick-and-mortar businesses — believe a reversal of Quill Corp. v. North Dakota may finally be on the horizon.
“I do believe Quill will get overturned; it’s just a matter of time,” North Dakota Sen. Dwight Cook says. And one of the U.S. states most reliant on the sales tax as a revenue source, South Dakota, might bring the case that “kills Quill.”
A year ago, South Dakota lawmakers passed a bill requiring most retailers without a physical presence in the state to remit the state’s sales tax. SB 106 applies to sellers with 200 or more annual transactions in South Dakota or whose gross revenue from sales in the state exceed $100,000. This year, Indiana (HB 1129) and North Dakota (SB 2298) passed “economic nexus” laws of their own.
Representative Gene Whisnant

Individuals with disabilities are major contributors to the modern workforce. However, the unemployment rate for those with disabilities is almost double  the unemployment rate of the general population according to the Bureau of Labor Statistics. Taking the proper steps to provide workers with disabilities the appropriate accommodations could reduce this high unemployment rate, and provide opportunities to thrive at work. Employment is the most direct and cost-effective...

In Bank of America v. Miami the Supreme Court held 5-3 that local governments have “standing” to bring Fair Housing Act (FHA) lawsuits against banks alleging discriminatory lending practices. But to win these claims local governments must show that their injuries were more than merely foreseeable. The State and Local Legal Center (SLLC) filed an amicus brief in this case on the side of the City of Miami.    

Miami claims that Bank of America and Wells Fargo intentionally issued riskier mortgages on less favorable terms to African-American and Latino customers than similarly situated white customers in violation of the FHA. Miami further claims these discriminatory practices caused foreclosures and vacancies which harmed the city by decreasing property values, reducing property tax revenue, and increasing costs to the city.  

Under Gov. Matt Mead, Wyoming has maintained one of the largest rainy day funds in the nation despite financial volatility in the energy-producing state caused by fluctuating gas prices. He has also focused on diversifying Wyoming’s economy through innovation and technology and by expanding business opportunities in the technology, renewable energy and manufacturing sectors. Mead said opening up the state to new industries combined with disciplined budgeting have kept Wyoming stable through the economy’s ups and downs.

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