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Pension Liabilities Are Key Source of Credit Pressure for States
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.
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Mayors will unleash a coast-to-coast political push for a significant increase in federal transportation funding. 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faced diminished abilities to manage federal grants because of workforce reductions, decreased financial capacities and outdated information technologies, the U.S. Government Accountability Office concluded in a report.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 »
A bipartisan group of Senators have reintroduced a bill that would allow states to require out-of-state businesses selling products over the Internet to collect taxes on those sales if their states had simplified their sales tax requirements. more »
The National Governors Association has written to House Speaker John Boehner to correct what it calls a "misunderstanding" underlying a recent draft online sales tax proposal made by House Judiciary Committee chair, Rep. Bob Goodlatte, R-Va. more »
Some pension obligation bonds can create a visible and fixed repayment plan to tackle the unfunded pension liability monster that is stealthily growing underneath the budget table of many state and local governments. more »
The Treasury Department announced on Friday that it will indefinitely suspend sales of state and local government securities beginning at noon on March 13 because of the federal debt limit. more »
Recent trends in the public pension arena "are not all gloom and doom," as most cities' pension funding ratios appear to have stabilized since the low point in 2010, Merritt Research Services said in a recent report. more »
The debate over the appropriate amount of public funding for professional sports facilities has been reignited in part because of growing revenue in the sports market, according to a report from Wells Fargo Securities released Friday. more »
In the aftermath of Moody's deep downgrade of several key Puerto Rico bonds, the United States Treasury said it supported Puerto Rico's progress. more »
A House panel will hold a hearing Feb. 26 on legislation that would allow Puerto Rico government-owned corporations to restructure their debts under Chapter 9 of the Federal Bankruptcy Code. more »

Some local governments may require extraordinary financial assistance from the Commonwealth, adding to pressure on its general obligations.

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