On the third anniversary of the Infrastructure Investment and Jobs Act (IIJA), the Biden administration has marked the occasion not just with reflection, but also with action, announcing a staggering $3.4 billion in grants. This move underscores a commitment to the ongoing revitalization of America’s infrastructure during the administration’s remaining months. Transportation Secretary Pete Buttigieg
Politics
In a significant political showdown, the Chicago City Council has firmly rejected Mayor Brandon Johnson’s proposed budget for 2025, notably turning down a contentious $300 million property tax increase. This move came as the city grappled with a daunting budget gap of approximately $982 million. The vote reflected an urgent and collective dismissal of the
The approval of Proposition U by Dallas voters has ushered in significant financial changes for the city, prompting Moody’s Investors Service to revise its credit outlook from stable to negative. This pivotal measure mandates that at least half of the city’s annual revenue increases be allocated towards public safety-related initiatives, notably to sustain and enhance
Oklahoma County is undertaking a significant venture aimed at replacing its outdated jail facilities, which have faced ongoing operational issues and criticism over health and safety standards. With a population nearing 800,000, the county’s current 13-story detention center, operational since 1991, has come under increasing scrutiny, leading county officials to pursue a modern facility that
Chicago, a city known for its iconic skyline and diverse culture, now grapples with significant financial challenges that have drawn scrutiny from rating agencies. Kroll Bond Rating Agency (KBRA) recently placed the city’s general obligation bond rating on a Watch Downgrade status, an indication of potential deterioration in its creditworthiness. This action coincides with the
The implementation of congestion pricing in New York City—a strategy supposed to alleviate the burden of traffic and intermittently fund public transportation—is now embroiled in deep political controversy. With the shadow of Donald Trump’s presidency casting uncertainty over urban policies, city officials are grappling with funding dilemmas and the feasibility of infrastructure projects. Who bears
As the political landscape evolves with new administrations at the helm, the Internal Revenue Service (IRS) budget becomes a focal point of debate. Legislative disputes over the IRS’s financial resources could profoundly impact the frequency and thoroughness of audits on municipal bond issuers. Notably, as indicated by industry experts, this complex interplay between IRS funding
In a recent set of referendums across the Southeast region of the United States, three out of five major bond proposals received voter approval, shaping the future of community development in cities like Nashville, Charlotte, and Fairfax County. These decisions are indicative of broader trends in local governance and community investment, highlighting the varying priorities
The Oklahoma Turnpike Authority (OTA) has recently found itself in the spotlight with the announcement of its decision to issue a staggering $1 billion in revenue bonds. The financing is aimed at furthering the contentious ACCESS Oklahoma expansion program, which has seen its estimated costs skyrocket from an initial $5 billion to an eye-watering $8.2
As the political landscape of the United States undergoes significant transformations, the repercussions for various sectors, particularly the municipal bond market, become a crucial point of discussion. Recent electoral outcomes with former President Donald Trump’s resurgence and Republicans regaining a majority in the Senate pose intricate challenges and opportunities that reverberate through the financial sphere.