The Hudson Tunnel Project is poised to become a pivotal development in enhancing the transportation infrastructure between New Jersey and New York City. With the Gateway Development Commission (GDC) nearing the completion of its financial framework, particularly the final grant from the Federal Railroad Administration expected soon, it stands as a beacon of progress amidst
Politics
In a groundbreaking initiative, local and state governments across the United States have received a boost from the Innovative Finance and Asset Concession Grant program. This innovative approach, created under the Infrastructure Investment and Jobs Act of 2021, aims to encourage municipalities to systematically catalog their assets with an eye toward potential public-private partnerships (P3s).
The municipal bond market is currently experiencing a significant growth phase, with many analysts predicting that this momentum will persist long beyond the upcoming November elections. This remarkable trend was a focal point at The Bond Buyer’s infrastructure conference held recently in Philadelphia, where industry experts expressed optimism about the current landscape. Paul Creedon, a
The discourse surrounding tax policy in the United States frequently oscillates between fiscal prudence and political maneuvering. Former President Donald Trump’s recent endorsement of lifting the cap on the State and Local Tax (SALT) deduction calls for an analysis of this subject’s complexities, particularly in relation to its implications for high-tax states like New York.
As Utah prepares for the upcoming November 5 elections, one of the key issues put before voters is Amendment A, a proposed constitutional change aimed at altering the allocation of tax revenues within the state budget. This amendment promises to provide greater flexibility in managing the state’s finances but raises serious concerns about the implications
In a noteworthy shift in financial assessment, Fitch Ratings has downgraded Houston’s AA rating outlook from stable to negative. This revision, announced recently, follows a similar stance taken by S&P Global Ratings two months prior. The primary catalyst for this downgrade appears to be the shrinking general fund reserves, which now hover precariously close to
As the prospect of tax reforms looms ahead, the Senate Finance Committee’s recent hearing has set the stage for a divisive debate between Democrats and Republicans. Central to this discussion is the expiration of key provisions from the 2017 Tax Cuts and Jobs Act (TCJA) and divergent views on how to address tax policy moving
The financial industry is currently facing a significant challenge with the proposed implementation of the Financial Data Transparency Act (FDTA), particularly concerning the identification system used for financial securities. Central to this debate is a proposed transition from the established CUSIP (Committee on Uniform Securities Identification Procedures) codes to Bloomberg’s Financial Instrument Global Identifier (FIGI).
The current legislative landscape in Washington is reminiscent of a game of political chess, marked by a series of contentious moves and unexpected withdrawals. House Republicans find themselves embroiled in an internal conflict regarding key legislation that juxtaposes the funding of government operations with efforts to enhance voting regulations. This ongoing debate has substantial implications
When Citi decided to close its public finance division, most of the bankers quickly transitioned to new roles in the municipal market. However, Archana Chandrasekhar took a different approach by taking time to pause and reflect before embarking on a new venture. After spending 14 years at Citi specializing in higher education, health care, and