The House GOP blueprint for tax reform released Friday sparked mixed reactions in Congress, with leading Democrats criticizing its lack of detail and Republicans lauding its proposed pro-growth efforts through limits on deductions, exclusions and credits in the current tax code.
Treasury Secretary Jack Lew added to the pressure for quick passage of a Puerto Rico rescue bill in a letter to the Senate leadership on Monday, even as some public finance professionals maintain the bill is unnecessary and could be harmful for the commonwealth.
In one of the biggest rallies in recent memory, municipal bonds surged on Friday after Britain voted to leave the European Union. Yields on some top-rated municipals fell by as much as 17 basis points to record low levels, in a move that some analysts said signaled yields will remain near all-time lows for longer than anyone had expected, and that negative U.S. interest rates may be on the horizon.
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Louisiana lawmakers capped their third session of the year on Thursday adopting a fiscal 2017 budget with $300 million in cuts while failing to address a projected $200 million current-year deficit. more »
The Higher Education Policy Commission's Friday meeting should have been the time to review financial information of the four-year colleges in the state, but that plan was stalled because of how long it took for lawmakers to agree on the state's budget for next year. more »
The outlook for the University of Louisville was changed to developing after Moody's Investors Service found that Kentucky Gov. Matt Bevins dismissal of the board of trustees raised uncertainty about the universitys governance. more »
The small south Florida city of Opa-locka, recently designated by the state to be in a financial emergency, is under investigation by the Securities and Exchange Commission, according to the Miami Herald. more »
In a first-of-its-kind case, a federal judge hears arguments June 30 on motions to dismiss a challenge by two Florida counties of $1.75 billion in private activity bonds for the All Aboard Florida passenger train. more »
Plans for a tram connecting downtown to LSU are on the fast-track this week after Mayor-President Kip Holden presented the project to the public on Tuesday and will ask the Metro Council on Wednesday for a $10 million bond to kick-start the project. more »
The Internal Revenue Service may soon revoke the tax-exempt status of a Georgia housing corporation that for three consecutive years failed to file information returns on a $7.81 million bond issuance in 2013. more »
Georgias Oconee Regional Medical Center did not make its June 1 bond payment, and although the hospital said it plans to pay the debt, S&P Global Ratings sent its ratings to the bottom of the junk scale. more »
North Carolina Transportation Secretary Nick Tennyson said the $800 million cost to unwind the I-77 Mobility contract and finance the projects in-house are among his concerns about House Bill 954, which would terminate the P3. more »
Carl Weisbrod, Director of the New York City Department of City Planning, joins Bond Buyer Senior Markets Reporter Chip Barnett to talk about the surge in NYCs population and corresponding employment growth and why economic growth is dependent upon affordable housing for workers.