It's budget season and in the 46 states that start the new fiscal year on July 1, people are hard at work getting their budgets ready. Those state operating budgets amount to more than a trillion dollars a year.
But what exactly does getting the budget ready entail? To discuss that, we sat down with Krista Lee Carsner, the executive director of the Fiscal Review Committee for the Tennessee General Assembly and the president of the National Association of Legislative Fiscal Offices.
She explained the importance of accurate revenue forecasts, how the budget hearing process works on both the executive and legislative sides of state government and how individual legislators can get a say in the budget process.
Our second guest on this podcast was Erica MacKellar, a fiscal policy expert with NCSL. She broke down the fiscal condition of the states, how they're coping in the post pandemic period and how revenue projections are very much on the mind of those crafting state budgets.
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