Pew's states’ fiscal health initiative provides data, analysis, and guidance to help states navigate their fiscal challenges and identify and understand potential policy approaches.
We examine key trends in state economies and budgets, and research and advance promising approaches to managing volatile state finances in an era of heightened uncertainty. Explore news about our work below.
Many states struggle with when and how to make withdrawals from their rainy day funds, a situation that can lead to poorly timed use of these reserve accounts, according to a report by The Pew Charitable Trusts. Read More
Strong Rainy Day Fund Policy Design and Well-Timed Usage Can Help Protect States Against Credit Downgrades
On October 25, 2016, Moody’s Investors Service downgraded New Mexico’s $327 million in outstanding general obligation bonds from Aaa to Aa1. Credit analysts explained that the rating was lowered because the state’s general fund reserves were depleted but emphasized that a rating upgrade is possible if the reserves are restored once revenue returns to normal. Read More
By most measures, the national economy is doing well. We have been in expansion for almost eight years, the unemployment rate is under 5%, the stock market has hit new highs, and personal income growth—while still slow—has turned positive since the Great Recession. Read More
Explore Fiscal 50 Interactive
Sort and chart data about key fiscal and economic trends in the 50 states, and read Pew's insights.