This essay examines the research on state budgeting that has appeared in Public Budgeting & Finance since its founding, with a view to summarizing the key themes and outlining what we have yet to learn. It also offers some suggestions for future research strategies, how to pick topics and cases, and theorize about the findings. The goal is not to utilize theories from other fields which may or may not be relevant to budgeting, but to theorize about what we know and get to a deeper level of understanding.