Chicago recently released a budget forecast that painted a grim picture of the city’s financial future. The forecast projected a corporate fund deficit of $982.4 million in 2025, a significant jump from $222.9 million at the end of 2024. The administration offered both downside and upside scenarios, with the negative scenario showing a $1.578 billion
Politics
Former President Donald Trump recently suggested the creation of a U.S. sovereign wealth fund to finance infrastructure projects during a speech to the Economic Club of New York. While the idea of a wealth fund for national development projects may sound appealing on the surface, there are several critical issues with Trump’s proposal that need
The latest annual bridge report from the American Road & Transportation Builders Association has revealed that one-third of bridges in the U.S. are in need of repair or replacement. The report is based on the U.S. Department of Transportation’s 2024 National Bridge Inventory and indicates that the number of bridges in poor condition has slightly
Almost two years after the implementation of the Inflation Reduction Act, states have only tapped into approximately 7% of the available funding opportunities for clean energy projects. The limited uptake of funding from the Biden administration’s landmark climate legislation is primarily attributed to the fact that the utilization of tax credits, which constitute a significant
Congressman Steven Horsford, a Democrat from Nevada, is poised to fill the vacated seat on the Ways and Means committee following the passing of Representative Bill Pascrell from New Jersey. This position became available after Pascrell’s unfortunate demise at the age of 87 due to a respiratory illness. Horsford previously held a seat on the
The recent report released by the Bureau of Economic Analysis revealed that inflation, as measured by the personal consumption expenditures (PCE) index, is showing signs of easing. The PCE index for July indicated a 2.5% increase over the same period last year, while the core PCE, which excludes food and energy prices, rose by 2.6%.
The recent lawsuit filed by the American Sustainable Business Council against Texas Comptroller Glenn Hegar and Attorney General Ken Paxton brings to light the ongoing debate surrounding the constitutionality of anti-boycott laws in Texas. The lawsuit challenges the 2021 law that targets banks and financial firms for “boycotting” the fossil fuel industry, citing violations of
The recent special session held by the Colorado Legislature concluded with the passing of a bill aimed at addressing property tax cut initiatives that were causing concerns in the state’s municipal bond market. House Bill 1001 was introduced as part of an agreement with backers of Initiative 50 and 108, leading to the removal of
The Democratic National Convention last week saw an influx of supporters lobbying for the establishment of a national infrastructure bank, as proposed in a bill by Rep. Danny Davis, D-Ill. The National Infrastructure Bank Coalition made a strong case for the need for such a financial tool, especially as the expiration of the Infrastructure Investment
The deal to transfer ownership of the deteriorating RFK stadium site from the federal government to the District of Columbia is currently facing a roadblock in the form of the upcoming election. With major players like the Washington Commanders involved, the focus has shifted towards the political landscape rather than resolving the ownership transfer. This