Federal budget deficit reached $1 trillion in five months through February 2026 as tax revenue jumped $206 billion due to higher income tax and tariff collections, CBO data shows.

A budget watchdog has sounded the alarm, warning that this would not be sustainable.

Congressional passage of the massive budget reconciliation measure, H.R. 1, in July set in motion a new federal-state fiscal dynamic—and states are moving fast to adapt. The law reshapes three policy ...

Budget delays at the state and federal levels are resulting in funding uncertainties for local schools, officials said this week. Pitt County Schools Superintendent Steve Lassiter told the Board of ...