BUDGET INSTITUTIONS AND FISCAL SUSTAINABILITY IN U.S. STATE GOVERNMENTS

Resumo

This article is focused on the US institutional experience regarding the public budget at the state level, certain of the influence exerted on fiscal sustainability, also at this governmental level, by the various budgetary institutions related to taxation and public expenditure. After a brief review of federalism as established in the United States, the chapter will explain various budgetary and fiscal laws and rules that structure state government fund flows. The article describes the performance budget, a popular budget reform to improve government performance, transparency, and accountability that many states have attempted. At the end, a description of various constraints on states that may affect their budgets and budget processes is provided.