Supreme Court Healthcare Ruling a Win for Hospitals
The Supreme Court's Thursday ruling that upheld the legality of federal subsidies under the Affordable Care Act is a win for the hospital sector that provides some stability through the remainder of the Obama presidency, analysts said.
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Amid talks of Puerto Rico’s looming debt crisis, two senators plan to introduce companion legislation to a bill that would allow Puerto Rico to grant Chapter 9 bankruptcy powers to troubled public entities on the economically distressed island. more »
The White House reiterated that the federal government won't offer bailout support to Puerto Rico after Gov. Alejandro García Padilla said the island's debt is not payable and that a debt restructuring is necessary, more »
Puerto Rico Gov. Alejandro García Padilla’s administration is pressing for Congress to stop focusing on the question of Puerto Rico’s statehood and instead shift its energy to giving the island territory access to Chapter 9 bankruptcy powers that exist in the states. more »
Total net tax-supported debt fell for the first time in 28 years in 2014, a Moody’s report found. more »
The traditional funded ratio of state and local pension plans rose for the first time since the financial crisis and may continue to rise in coming years, according to a new study by the Center for Retirement Research at Boston College. more »
The U.S. Conference of Mayors adopted a resolution against limiting tax-exempt bonds more »
Lobbyists are pressuring lawmakers over a proposed bill to allow the territory’s authorities to declare bankruptcy, as a House panel prepares to hold a hearing on whether the territory should become a state. more »
States are hard-pressed to meet spending needs in key areas like education, health care and infrastructure, as budgets and finances have been slow to recover from the Great Recession, a report issued Tuesday found. more »
Income tax collections January to April in states that impose broad-based personal income taxes were up 11.5% from the same period in 2014. more »
California has improved its budget practices and Virginia has enacted pension reforms, but New Jersey has been unable to get past chronic pension and budget problems, a nonprofit group found in a report released Monday. more »
The Governmental Accounting Standards Board on Tuesday approved two statements that provide new accounting and financial reporting standards for other post-employment benefits. more »
Former Puerto Rico Gov. Anibal Acevedo Vila said the U.S. needs to negotiate a “new economic relationship” with Puerto Rico to help it avoid default on its $72 billion of debt. more »
Mayor Bill de Blasio unveils an overhaul of the New York City Housing Authority, saying the agency is mired 'in its worst financial position in more than 80 years. more »

Orrick, Herrington & Sutcliffe LLP attorneys take a look at the Securities and Exchange Commission settlements with 36 municipal securities underwriters pursuant to the Municipalities Continuing Disclosure Cooperation initiative.

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