budget gap
Coverage of budget gap in the Nexus archive.
- 3 younger Dallasites say what they would do with the city’s new budget
Three younger Dallas residents share their ideas for addressing the city's new budget. The city is entering budget season with meetings and town halls starting in August amid a $51 million budget gap.
- CPS says delayed Cook County tax collections increase borrowing costs as budget gap persists
Chicago Public Schools (CPS) reports that delayed tax collections from Cook County are increasing borrowing costs. The issue coincides with a persistent budget gap at CPS.
- Germany news: Tobacco tax to rise more than planned by 2030
Germany's ruling coalition plans to increase tobacco taxes by 2030 to address a budget gap and improve public health. A US national with Ebola is currently receiving treatment in Germany.
- Dallas orders 3 employee unpaid furlough days as budget shortfall deepens
Dallas has ordered three unpaid furlough days for employees due to a deepening budget shortfall. The city is also under a hiring freeze and faces a projected $51 million budget gap.
- Frey talks $30M budget gap: ‘Everything on the table’ to avoid property tax spike
Minneapolis faces a $30M budget gap, prompting Mayor Jacob Frey to consider cuts to programs, services, and potential job losses to avoid a property tax spike. Frey emphasizes efficiency and prioritizes public safety, housing, and economic development as he prepares to present his budget to the city council in August.
- Plans forming to address Minneapolis’ ‘substantial’ $30M budget gap
Minneapolis faces a $30 million budget gap for next year, prompting discussions about property tax hikes and cost-cutting measures. Council member Elizabeth Shaffer emphasizes the need for city efficiency and shared financial responsibility, while Mayor Jacob Frey is reviewing department budgets to address the shortfall.
- A rare Mamdani-Menin alliance
Mayor Zohran Mamdani and Council Speaker Julie Menin, previously at odds over closing New York City's budget gap, have united to push for scaling back a tax credit benefiting millionaires, aiming to generate $1 billion in revenue. Governor Kathy Hochul rejected their proposal, complicating efforts to address the city's fiscal shortfall and creating a new political rift ahead of her reelection.
- NYC Pension Plans to Invest $4 Billion in Affordable Housing
New York City plans to invest $4 billion in affordable housing through its pension funds. The city faces a $10 billion budget gap next fiscal year due to slowing tax collections and uncertainty over federal funding.