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The Impact of Eliminating the State and Local Tax Deduction

As part of its tax reform efforts, Congress is debating whether to eliminate the ability for taxpayers to deduct state and local taxes (SALT).

The ARC and the Covenants 3.0: U.S. Cities and Counties" by Michael Cembalest

In this third installment of our "The ARC and the Covenants" series, we look at the total indebtedness of U.S. cities and counties, including general obligation debt and underfunded pension and retiree healthcare plans.

The Funded Status of Local Pensions Inches Closer to States

The last comprehensive review of locally administered plans in this series found that their funded status-as of 2011-lagged behind that of state pension plans.

Garden State Crowd-Out: How New Jersey's Pension Crisis Threatens the State Budget

The Rockefeller Institute of Government at the State University of New York defines a government pension system that's below 40% funded as in crisis.

How Have Municipal Bond Markets Reacted to Pension Reforms?

While most municipal analysts view pensions as a minor risk to the municipal debt markets, many state and local government officials express concern that poor pension finances greatly threaten their government's ability to borrow at affordable rates.

State and Local Government Pensions at the Crossroads: Updating Accounting Standards Highlight the Challenges

Underfunding, questionable investment decisions, imperfect assumptions on future market returns, declining interest rates, and the structure of defined benefit plans have created a fiscal crisis for many pubic pension funds.

The Penn Institute for Urban Research “State & Local Public Finance Links” website is a library of resources, updated monthly, for planners, policymakers, and researchers to access analysis and information about state and local public finance in the United States.

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