Former Puerto Rico Governor Warns of Looming Default
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.
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The Governmental Accounting Standards Board on Tuesday approved two statements that provide new accounting and financial reporting standards for other post-employment benefits. 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 »
The closure of the Treasury SLGS window has added a degree of difficulty to some refunding deals. more »
The economic decisions municipal governments are making right now could serve as a good guide to how they might behave under fiscal stress, Public Financial Management managing director Michael Nadol told muni analysts Friday. more »
Congressman Pedro Pierluisi is urging President Obama to convene an interagency meeting to discuss resolution of a Medicaid funding problem that could hit Puerto Rico as soon as September 2017. more »
Data from the U.S. Treasury on State and Local Government Series Securities indicate the amount of pre-refunded bonds outstanding may be shrinking. more »
U.S. cities have significant long-term liabilities other than pensions that warrant attention, Merritt Research Services president and chief executive officer Richard Ciccarone argues in a report. more »
Mayors will unleash a coast-to-coast political push for a significant increase in federal transportation funding. more »
Pension liabilities and their associated budget pressures remain significant sources of credit pressure for many states, Standard & Poor’s said in a report released Tuesday. more »
State revenues from gambling show weakness despite gambling expansion, according to a report from the Nelson A. Rockefeller Institute of Government. more »
Municipalities in fiscal crisis faced diminished abilities to manage federal grants because of workforce reductions, decreased financial capacities and outdated information technologies, the U.S. Government Accountability Office concluded in a report. more »
Thirty states’ tax receipts, adjusted for inflation, had not fully rebounded from the Great Recession more than five years after its end, according to an analysis released by a nonprofit organization on Monday. more »
Leaders of the Senate Finance Committee are soliciting ideas from stakeholders and members of the public on how best to overhaul the nation’s “broken” tax code to make it simpler, fairer and more efficient. more »

Which local governments might use the bankruptcy option if Gov. Bruce Rauner’s bankruptcy bill is enacted?

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