On a pivotal Wednesday in Washington D.C., both chambers of Congress— the House of Representatives and the Senate— came together to approve a continuing resolution (CR) aimed at avoiding a federal shutdown. The successful passing of this legislation came with significant bipartisan support, illustrated by a decisive 341 to 82 tally in the House and
Politics
The landscape of state taxation in the United States has undergone a significant transformation in recent years. With an overwhelming majority of states implementing tax cuts between 2021 and 2023, the financial ramifications of these decisions are now emerging as budget shortfalls. As we navigate this complex situation, it’s essential to analyze the drivers behind
New Mexico has recently come under the spotlight in the financial sector, as Moody’s Investors Service has adjusted its outlook on the state’s Aa2 bond rating from stable to positive. This resounding shift reflects a myriad of factors, most notably New Mexico’s robust financial position marked by an impressive growth in operating reserves and permanent
The municipal securities market is poised for a significant transformation following the recent approval by the Securities and Exchange Commission (SEC) for amendments to the Municipal Securities Rulemaking Board (MSRB) Rule G-14. This decision marks a pivotal moment, as it reduces the time frame for customer transaction reporting from 15 minutes to just one minute,
The Hudson Tunnel Project, a vital infrastructural endeavor meant to enhance connectivity between Manhattan and New Jersey, is gathering momentum as it nears an important milestone. Pat McCoy, the Chief Financial Officer of the Gateway Development Commission (GDC), recently revealed during a discussion with the Municipal Analysts Group of New York that the commission is
In a distinct shift towards more effective utilization of public assets, the U.S. government has launched the Innovative Finance and Asset Concession Grant program. This initiative, born from the 2021 Infrastructure Investment and Jobs Act, envisions a new paradigm in public-private partnerships (P3s) by incentivizing local and state governments to closely evaluate their assets for
The landscape of municipal bonds has transformed significantly in recent times, marking an extraordinary year characterized by unprecedented issuance levels. As the fiscal year progresses, industry experts predict that this momentum will extend beyond the upcoming November elections, suggesting a flourishing market ripe for investment. As articulated by Paul Creedon, managing director at Janney Montgomery
Former President Donald Trump’s recent endorsement of lifting the cap on the State and Local Tax (SALT) deduction has stirred a mix of optimism and skepticism among various stakeholders, particularly municipal bond issuers. Announcing his support via a platform known for its echo chambers and immediacy, Trump characterized the move as an essential step toward
In the upcoming election on November 5, Utah voters will face a significant decision regarding the state’s approach to educational funding. Amendment A, which has drawn both interest and concern, proposes changes that would modify how revenue specifically earmarked for K-12 education can be utilized. Currently, personal income, corporate franchise, and intangible property tax revenues
The financial landscape in Houston, Texas, has recently come under scrutiny following critical assessments from major credit rating agencies, primarily Fitch Ratings and S&P Global Ratings. The shifting outlook of Houston’s ratings to negative raises alarms regarding the city’s financial health, specifically its declining reserve funds and the implications of recent collective bargaining agreements aimed