As the new year commences, many states have begun their legislative sessions, with lawmakers eager to capitalize on campaign promises and get their priorities signed into law. Emerging trends across the states include a growing number of bills targeting warehouses, including legislation regulating warehouse quotas and heat safety standards.
State budgets, once flush with cash in the COVID-19 pandemic years, are now struggling due to higher-than-expected entitlement spending related to inflated costs and revenue shortfalls. Some state governments, including Illinois and Maryland, must grapple with budget cuts, tax increases or other revenue raisers. In the National Association of State Budget Officers’ (NASBO) Fall 2024 Fiscal Survey of States report, it was noted that state general fund spending is expected to decline by 0.3%. However, the report concluded that states have an overall “sound fiscal position” with “stable revenue outlooks and rainy day funds at near all-time highs.”
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