Caitlin Devitt

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.