On a busy Wednesday, the U.S. Congress managed to clinch a deal that will avert a government shutdown while maintaining federal funding essential for the functioning of state and local agencies. This crucial bipartisan initiative passed through both the House of Representatives and the Senate, with a decisive margin—341 to 82 in the House and
Politics
The intricate landscape of state tax policies has witnessed a notable shift in recent years, transitioning from a phase of robust tax cuts to an emerging crisis of budget deficits. As the effects of the pandemic begin to wane and the economy stabilizes, a stark realization settles in: many states are ill-prepared for the financial
New Mexico’s recent rating assessment by Moody’s has become a focal point of discussion, particularly following the agency’s revision of its outlook on the state’s Aa2 rating from stable to positive. This shift, while seemingly an affirmation of New Mexico’s economic resilience, is also wrapped in noteworthy caveats that deserve a deeper analysis. The state’s
The Municipal Securities Rulemaking Board (MSRB) has made a game-changing decision with the Securities and Exchange Commission (SEC) approving amendments to Rule G-14, which pertains to customer transaction reporting. This new regulation reduces the time window for trade reporting from 15 minutes to just one minute. While a formal compliance deadline is yet to be
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
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