The Municipal Securities Rulemaking Board (MSRB) has recently approved a budget of $48.8 million for the fiscal year 2025, marking a modest 2.9% increase over its previous budget. This decision comes in the wake of the Securities and Exchange Commission’s suspension of the MSRB’s FY2024 rate card, alongside a series of stakeholder meetings aimed at
Politics
Proposition 98 is a landmark piece of legislation in California, designed to ensure a stable and predictable flow of funding to the state’s public schools and community colleges. Enacted in 1988, this constitutional amendment mandates that a certain percentage of the state’s budget be allocated to education each fiscal year. Its ongoing significance is underscored
The economic landscape is perpetually changing, influencing how policymakers approach monetary strategies to foster stability and growth. While inflation and unemployment have traditionally been the focal points for the Federal Reserve in crafting monetary policy, recent comments by Fed Chair Jerome Powell have highlighted an additional metric gaining traction: personal savings. This article delves into
The recent leadership transition within the House Municipal Finance Caucus signifies a pivotal moment for municipal finance discussions in Congress. With Democratic Representative Terri Sewell of Alabama stepping into the role of co-chair following the retirement of Maryland’s Dutch Ruppersberger, stakeholders are keenly watching how her ascendancy will shape the future of public finance policies.
On a pivotal Wednesday, a significant legislative action unfolded as both the House of Representatives and the Senate reached a consensus on a continuing resolution (CR) aimed at keeping the U.S. government operational. This decision came amid looming budget deadlines, with a voting outcome that showcased remarkable bipartisan cooperation: 341 to 82 in the House
In recent years, state governments across the United States have been on a tax-cutting spree, ostensibly to foster economic growth and provide financial relief to their citizens. The trend has been monumental, with 48 out of 50 states slashing taxes between 2021 and 2023. Richard Auxier of the Urban-Brookings Tax Policy Center observes that this
The recent changes to New Mexico’s credit ratings by Moody’s highlight both the state’s financial strength and the potential vulnerabilities tied to its economic structure. This article delves into the implications of the rating adjustment and evaluates the state’s fiscal trajectory amid evolving conditions. Moody’s has revised its outlook on New Mexico’s Aa2 credit rating
In a significant push towards enhanced transparency in the municipal securities market, the Securities and Exchange Commission (SEC) has sanctioned vital amendments to the Municipal Securities Rulemaking Board (MSRB) Rule G-14. This pivotal update will reduce the trade reporting time threshold from fifteen minutes to just one minute, marking a historic evolution in how transactions
The Gateway Development Commission (GDC) is poised to secure its last grant for the Hudson Tunnel Project by the end of this month, completing a substantial funding framework that already includes a $3.8 billion grant from the Federal Railroad Administration. According to Chief Financial Officer (CFO) Pat McCoy, this federal grant is the final piece
In a groundbreaking move towards enhancing infrastructure development, many local and state governments have recently been awarded grants under the Innovative Finance and Asset Concession Grant program. This initiative aims to facilitate a strategic approach to inventorying public assets with an eye on potential monetization through public-private partnerships (P3s). Officially established as part of the