State Review Board Approves New York MTA Capital Plan
The Metropolitan Transportation Authority's $27 billion capital program for 2015 to 2019 has received final approval from the New York State Capital Program Review Board.
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President Obama is threatening to veto legislation approved by the House that would effectively block the District of Columbia from achieving budget autonomy and home rule.  more »
Gov. Alejandro García Padilla’s proposed budget anticipates the continued payment of bonds of the Puerto Rico Sales Tax Finance Authority in fiscal year 2016-2017.  more »
The Long Island Power Authority tapped Joseph Branca, Bank of America Merrill Lynch’s head of northeast public finance, as its new chief financial officer.  more »
Proposed House legislation designed to help Puerto Rico is moving to the full floor with light amendments after a 29-10 House Natural Resources Committee vote on Wednesday.  more »
A state review panel’s approval of a five-year, $27 billion capital program was greeted enthusiastically by the board of the New York Metropolitan Transportation Authority t.  more »
New York City anticipates higher projected tax revenues but widening outyear budget gaps, city Comptroller Scott Stringer tells the City Council.  more »
WEST HAVEN -- Director of Finance Kevin McNabola and the city's financial advisers presented the City Council with a plan this week to sell bonds to pay off the city's $16.3 million general fund unassigned fund balance deficit over 10 years.  more »
Debt gone wild at the teetering Penn Hills, Pa., School District has raised the specter of criminal probes after a scathing report by Pennsylvania's state auditor.  more »
Leaders of the House Natural Resources Committee and Rep. Pedro Pierluisi on Tuesday night urged their colleagues to approve a bill to help debt-ridden Puerto Rico, even though they may not support certain provisions or worry the measure does not go far enough.  more »
NEW HAVEN -- The Board of Alders' Finance Committee recommended a $523.3 million city budget Monday for the forthcoming fiscal year, following lengthy deliberations that concluded with the approval of a $45 million school project by a narrow 6-5 vote.  more »
New York City projects a $3.4 billion surplus for fiscal 2016 amid rising concerns for the near future, says state Comptroller Thomas DiNapoli.  more »
Analysts said the minimal allotment to debt service and a lack of other spending cuts add fuel to the argument that an outside control board, as being considered in the U.S. House of Representatives, is needed.  more »
Atlantic City would avoid an immediate default and get more time to avert a state takeover under compromise legislation moving forward in the New Jersey legislature.  more »

Daniel Berger, Senior Market Strategist at Municipal Market Data, talks about the recent rally in municipal bonds which has brought long-term yields down to record lows. He talks about continuing demand from retail investors in light of the upcoming Summer redemption season and he discusses the allure that the American tax-exempt market has for overseas buyers. He outlines the recent spread compression in quality credits and also looks at some of the market's outliers -- Puerto Rico and Chicago.

Our legislation would preserve money market funds as a source of liquidity and capital for public the infrastructure needs of our citizens.

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