" 'There are probably more ballot measures in years where the economy is not only growing, but when there is also a positive landscape for passage,' said Tom Kozlik, head of municipal research and analytics at Hilltop Securities Inc.

"State and local government payrolls still haven’t recovered to pre-pandemic levels despite an influx of federal stimulus money. That cautious fiscal approach may be contributing to deflated borrowing on ballots this year, much like the aftermath of the Great Recession, when planners were reluctant to add debt to balance sheets amid layoffs intended to balance budgets, Kozlik said."

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