Caitlin Devitt

Roughly 70% of the grants will go to projects in disadvantaged areas.

Republicans are threatening to try to overturn the rule through the Congressional Review Act.

House Republicans want 2024 appropriations offset with cuts from "COVID-era slush funds."

"It's inevitable there will be spending cuts," said Emily Brock, federal liaison for the Government Finance Officers Association.

The Senate Committee on Homeland Security and Governmental Affairs unanimously passed the bill in October.

The climate rule aimed at cutting transportation-related greenhouse gas emissions will restrict investment in certain projects, said the states.

State departments of transportation are expected to boost their own funding during the third year of federal infrastructure support from the IIJA.

Despite federal restrictions, governments flush with stimulus funds funneled a significant amount toward pension plans in 2022, a new report found.

Increasing capital requirements for banks may incentivize them to buy Treasuries over other assets, including munis, said market participants.

The bill would require government agencies to undertake an independent audit and a public comment period before entering into P3s among other provisions.

The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.

Ohio last week opened the first, and so far only, electric vehicle charging station funded under the Bipartisan Infrastructure Law.

Joe Ferguson, who served as Chicago's inspector general under three mayoral administrations, replaces Laurence Msall, who died earlier this year.

Nuveen's marquee fund has seen the worst performance among the largest high-yield funds so far this year.

Friday's S&P upgrade to triple-A follows similar moves by Moody's Investors Service last week and Fitch Ratings last year.

California's high-speed train is "facing a lot of the challenges that come with being the very first at anything," said Transportation Secretary Pete Buttigieg.

It's the second try for the bill, which Sen. Dick Durbin, D-Ill., first introduced in 2021.

Republicans have repeatedly criticized the California high-speed rail project as a waste of taxpayer money.

Cities and states are eligible to apply for the program, which gives eligible solar and wind facilities in low-income areas increased investment tax credits of 10% or 20%.

The delays have led to a technical default by the design-build contractor on the $450 million project to design, finance, build, operate and maintain the Thruway's 27 service areas.