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
Politics
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
The municipal bond market in the United States is experiencing an unprecedented uplift, a phenomenon reflected in the sharp increase in issuance throughout the year. Various stakeholders and analysts have voiced optimism regarding the persistence of this momentum beyond the upcoming November elections. At the heart of this optimism lies not only a record-setting issuance
In a surprising move, former President Donald Trump recently expressed his support for lifting the cap on the State and Local Tax (SALT) deduction. This announcement, made on his Truth Social platform ahead of a rally on Long Island, could signal a renewed focus on tax policy that particularly affects residents of high-tax states like
The upcoming election on November 5, 2024, introduces a significant prospective change to Utah’s education funding landscape. Proposed Amendment A seeks to alter the constitutional stipulations regarding earmarked funds, particularly personal income, corporate franchise, and intangible property tax revenues, which have historically been designated for public education. This article delves into the implications of the
Recent developments concerning Houston’s financial outlook have raised alarms, particularly following Fitch Ratings’ recent decision to downgrade the city’s AA rating from stable to negative. This action closely follows a similar downgrade by S&P Global Ratings, indicating a troubling trend for the city’s fiscal health. The crux of the issue seems to lie in the