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
Politics
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
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
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