Headlines for February 16, 2017
Calling passage of a compromise budget plan a matter of “political will,” Illinois Gov. Bruce Rauner offered his support for an income tax increase and expanded sales tax as long as the deal permanently freezes local property taxes, caps spending, and overhauls worker’s compensation.
Former Securities and Exchange Commission chair Mary Jo White, who oversaw multiple first-of-their-kind enforcement actions in the municipal market, rejoined Debevoise & Plimpton as the firm's senior chair on Wednesday.
Issuers across the Southeast brought $71.7 billion of municipal bonds to market in 2016, a 3.3% year-over-year increase that was generated largely by refundings.
Bipartisan caucus of lawmakers wants to meet with President Trump on developing consensus tax reform, infrastructure legislation.
PHOENIX - Legislation that would raise gasoline and other taxes to fund California transportation infrastructure is a step closer to passage after a committee vote Tuesday, in a sign of life for transportation after the legislature failed to pass a funding bill last session.
Municipal investors at client meetings with BlackRock are expressing more concern about rising interest rates than about the potential impact of tax reform – to the surprise of officials in the firm’s muni group.
Puerto Rico Gov. Ricardo Rosselló’s office blasted the president of the University of Puerto Rico for failing to provide information expected to be used to slash the university’s subsidy.
New York City agencies should work harder to cut costs as Washington uncertainty hovers, Comptroller Scott Stringer said in his review of Mayor Bill de Blasio’s $84.7 billion preliminary budget.
Legislation that would pave the way for state oversight and appointment of an emergency manager for Indiana’s embattled Gary Community School Corp. in Indiana is headed to the state House after passing the Senate.
New Jersey lawmakers have waged battle over a proposed bill that would require the state to reimburse municipalities that defy President Trump’s ban on “sanctuary cities.”
Virgin Islands Gov. Kenneth Mapp issued an order aimed at reducing the government’s operational costs.
Members of Congress need to be educated about state and local retirement plans for non-government workers before the Senate votes on two joint resolutions next month that could essentially kill them, say retirement experts.
Top-quality municipal bonds again finished weaker Wednesday, according to traders, as yields on some maturities ended as much as six basis points higher.
GovernmentSecurities Prices 10-year: 97 24/32 to yield 2.51%, down 8/3230-year: 98 6/32 to yield 3.09%, down 17/32 Municipal BondIndex 122 8/32 down 20/32 The Bond Buyer's30-Day VisibleSupply (as of 2/16) Total: $6.521 billion, down $247.8 millionCompetitive: $2.583 billion, up $253.0 millionNegotiated: $3.938 billion, down $500.8 million The MuniCenter List Offering total: $15.101 billion, down $392.4 million