Source. National Association of State Budget Officers, 2025 State Expenditure Report, Table 1: total state expenditures by fund source, fiscal 2025 (estimated).

Method and data

Method. NASBO’s figures are the states’ own, reported by budget office on each state’s accounting basis, and fiscal 2025 is the states’ estimate at the time of the survey. Total spending here includes general funds, federal funds, other state funds and bonds; it differs from Census’s general revenue in coverage and timing, which is why Exhibits 1 and 4 do not match state by state. Census measures revenue by its nature and NASBO measures spending by state fund, so the two diverge most where a state reports large restricted or non-appropriated funds. Since 2022 Arizona has included non-appropriated spending in NASBO’s totals (NASBO, 2025 State Expenditure Report, General Notes). In fiscal 2024 NASBO’s Arizona federal funds ($25.4 billion) were close to Census’s federal revenue ($27.6 billion), but NASBO’s total spending was $96.4 billion against Census’s $60.9 billion of general revenue. Wyoming and West Virginia diverge by as much. NASBO lists the District outside its 50-state total for fiscal 2023 and 2024 and reports no fiscal 2025 figure for it.

State	General fund, FY2025 ($ million)	Federal funds	Other state funds	Bonds	Total	Federal share (%)	Rank
Louisiana	13,027	23,468	11,303	537	48,335	48.6	1
Indiana	21,474	21,850	3,790	0	47,114	46.4	2
Alaska	6,256	7,167	2,401	0	15,824	45.3	3
Mississippi	7,041	14,307	10,290	331	31,969	44.8	4
New Mexico	10,419	13,159	5,895	174	29,647	44.4	5
Tennessee	24,219	25,467	9,046	0	58,732	43.4	6
Missouri	14,129	17,738	9,293	9	41,169	43.1	7
South Dakota	2,392	2,910	1,564	5	6,871	42.4	8
Michigan	14,876	33,885	31,943	297	81,001	41.8	9
Montana	2,859	4,288	3,348	0	10,495	40.9	10
Oklahoma	7,932	12,323	9,691	586	30,532	40.4	11
North Carolina	31,300	33,090	18,285	563	83,238	39.8	12
Kentucky	15,931	22,557	18,743	0	57,231	39.4	13
New Hampshire	2,010	3,485	3,318	34	8,847	39.4	14
Pennsylvania	47,905	50,628	28,487	1,551	128,571	39.4	15
Alabama	15,655	17,284	10,616	359	43,914	39.4	16
Ohio	29,415	40,585	33,167	1,535	104,702	38.8	17
New York	97,846	93,455	42,414	7,756	241,471	38.7	18
Rhode Island	5,598	5,613	3,209	147	14,567	38.5	19
Idaho	5,325	6,173	4,608	0	16,106	38.3	20
Vermont	2,419	3,422	3,063	57	8,961	38.2	21
Maine	5,485	5,354	3,645	38	14,522	36.9	22
Nevada	6,149	7,722	7,082	68	21,021	36.7	23
Texas	46,831	52,656	46,281	852	146,620	35.9	24
North Dakota	2,900	2,706	2,240	7	7,853	34.5	25
Arkansas	6,164	11,032	15,294	50	32,540	33.9	26
California	233,577	172,349	98,637	5,720	510,283	33.8	27
Florida	49,932	39,827	27,202	1,944	118,905	33.5	28
Iowa	8,972	10,945	13,105	0	33,022	33.1	29
South Carolina	14,225	13,791	13,762	0	41,778	33.0	30
Maryland	27,457	22,169	19,181	2,134	70,941	31.2	31
Minnesota	35,553	22,339	13,187	1,031	72,110	31.0	32
Oregon	16,726	19,382	26,853	851	63,812	30.4	33
New Jersey	56,906	29,948	12,656	1,652	101,162	29.6	34
Utah	12,657	8,432	7,404	0	28,493	29.6	35
Georgia	38,041	21,568	15,333	0	74,942	28.8	36
Colorado	16,213	13,202	16,301	544	46,260	28.5	37
Virginia	32,948	24,768	30,780	909	89,405	27.7	38
Nebraska	5,475	5,595	9,155	0	20,225	27.7	39
Massachusetts	40,158	24,549	21,226	3,276	89,209	27.5	40
Kansas	10,315	7,653	9,695	317	27,980	27.4	41
Wisconsin	21,118	18,456	29,048	0	68,622	26.9	42
Washington	35,595	20,613	21,943	3,541	81,692	25.2	43
Connecticut	23,425	11,239	6,955	3,674	45,293	24.8	44
Arizona	16,245	17,982	38,896	442	73,565	24.4	45
Delaware	6,925	3,934	6,317	299	17,475	22.5	46
Hawaii	10,931	4,454	3,762	933	20,080	22.2	47
West Virginia	4,827	5,551	16,455	185	27,018	20.5	48
Wyoming	1,654	1,006	2,928	0	5,588	18.0	49
Illinois	50,576	25,062	74,090	2,338	152,066	16.5	50
All states	1,216,008	1,077,138	873,887	44,746	3,211,779	33.5

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Higgins Strategy. “By the states’ own budget accounts, federal funds paid for 34% of all state spending in fiscal 2025: 49% in Louisiana, 31% in Maryland, 28% in Virginia” Exhibit 4, Every State Dollar (Study XIX). October 12, 2026. https://higginsstrategy.com/charts/19-04-federal-funds-share-of-state-spending-fy2025/