The efforts to rebuild America’s roads and bridges using funds from the Bipartisan Infrastructure Law (BIL) are facing significant obstacles due to regulations and red tape. While proponents of the legislation highlight the improvements being made, particularly in the public transit sector, the pace of progress remains slow. Senator Sherrod Brown of Ohio emphasized the
Politics
The city of Gary, Indiana, is embarking on a journey to revitalize its downtown area through various projects supported by bond financing. One of the key projects in this effort is the redevelopment of the Gary Metro Center station and the construction of a convention center in Lake County. Notre Dame’s School of Architecture is
California’s fiscal 2025 budget addressed the revenue gap that was left unresolved in fiscal 2024. However, according to a Fitch Ratings commentary, additional actions will be necessary to achieve fiscal balance in the upcoming years. The state’s AA/Stable issuer default rating is supported by this budget, despite potential further adjustments needed to align spending with
California Governor Gavin Newsom recently issued an executive order directing state agencies to adopt policies to clear homeless camps on state properties. In addition, Newsom urged local governments to utilize the substantial funding provided by the state to take similar actions. This executive order comes in response to the U.S. Supreme Court’s Grants Pass decision,
The Federal Deposit Insurance Agency board is set to vote on a notice of proposed rulemaking concerning the Financial Data Transparency Act. This act, signed into law on December 23, 2022, aims to convert municipal securities disclosures into a machine-readable format. The FDIC, along with six other federal agencies and the Securities and Exchange Commission,
The Louisiana State Bond Commission recently approved three significant bond issues totaling over $3 billion. Among these approvals was a bond ranging from $1.33 billion to $2 billion, which will be supported by tolls on the I-10 Calcasieu River Bridge. This bond aims to finance the replacement of the I-10 Calcasieu River bridge located in
Oregon Governor Tina Kotek has been forced to take drastic measures in response to the recent onslaught of wildfires in the state. With over 100 new fires ignited by lightning storms, the situation has escalated quickly, prompting Kotek to invoke the Emergency Conflagration Act multiple times in just a few days. The scale and intensity
Recently, an Oklahoma judge issued a permanent injunction against the enforcement of a 2022 state law that prohibited four investment banks from underwriting municipal bonds. The ruling was made on the grounds that the law was considered unconstitutionally vague and violated the state’s Constitutional requirement regarding pension benefits. This decision came after a lawsuit was
The recent poll conducted in California has shed light on the significance of environmental policy in the upcoming presidential election. The findings reveal that a majority of California voters consider environmental issues as a crucial factor in determining their choice of candidate. This sentiment is particularly evident in the support for a $10 billion bond
Infrastructure costs in the United States have been a topic of discussion for many years, with comparisons showing significantly higher costs when compared to other countries. A recent study presented at the Brookings 13th annual Municipal Finance Conference shed some light on the reasons behind these high costs. The study, titled “Procurement and infrastructure costs,”