Chicago recently released a budget forecast projecting a significant increase in its corporate fund deficit in the coming years. The deficit is expected to grow to $982.4 million by 2025, up from $222.9 million at the end of 2024. Mayor Brandon Johnson’s administration presented downside and upside scenarios for future years, with a negative scenario
Politics
During a speech to the Economic Club of New York, former President Donald Trump suggested the establishment of a U.S. sovereign wealth fund to finance infrastructure projects. Trump emphasized the need for the fund to invest in national endeavors for the benefit of all Americans. He questioned why the U.S. did not already have such
The American Road & Transportation Builders Association has recently released a report indicating that one-third of bridges in the United States are in need of repair or replacement. The report highlights the ongoing efforts of states to reduce the number of bridges in poor condition, bringing the total down to 42,067 from 42,391 in 2023.
Two years after the implementation of the Inflation Reduction Act (IRA), states have only captured an average of 7% of the potential funding opportunities provided by the Biden administration’s signature climate legislation. This low percentage is primarily due to the fact that the utilization of tax credits, which serve as the main source of federal
The recent passing of Rep. Bill Pascrell, D- N.J., has left a vacant seat on the Ways and Means committee, and Rep. Steven Horsford, D–Nev., is expected to fill this position. This change comes after Rep. Horsford served on the Ways and Means Committee for two terms but was removed when the Republicans gained control
The latest data released by the Bureau of Economic Analysis indicates that inflation is showing signs of easing, with the Personal Consumption Expenditures (PCE) index coming in at 2.5% over the same point last year. Core PCE, which excludes food and energy, saw a year-over-year increase of 2.6%. These numbers are quite stable compared to
Recently, a business group has filed a lawsuit in federal court in Austin, Texas, challenging the constitutionality of a 2021 law that penalizes banks and financial institutions for participating in a “boycott” of the fossil fuel industry. The lawsuit argues that the law infringes on the free speech and association rights protected under the First
The recent special session of the Colorado Legislature came to a close with the approval of House Bill 1001, aimed at addressing property tax cut initiatives that were causing concern in the state’s municipal bond market. This bill, which received bipartisan support, signifies a significant step towards easing tensions surrounding property tax issues in Colorado.
Supporters of a national infrastructure bank have been advocating for the establishment of one, with a bill by Rep. Danny Davis, D-Ill., that would set it up. The pitch for this idea was made to numerous delegates and politicians at the Democratic National Convention, aiming to capitalize on the increasing momentum for the issue. During
The negotiations surrounding the transfer of ownership of the RFK stadium site from the federal government to the District of Columbia have hit a roadblock, with major players expressing concerns over the current political climate. Josh Harris, managing partner of the Washington Commanders, highlighted that the focus on the upcoming election has shifted attention away