Caitlin Devitt

Citi's exit comes amid the larger trend of broker-dealers downsizing balance sheets, which can hurt secondary market liquidity, particularly in times of stress. Other market players are coming into the fold.

The payout represents the maximum percentage a whistleblower can receive under the False Claims Act in Illinois.

The traditional tax exemption "does take some of the volatility out," said Mark Ritacco, chief government affairs officer for the National Association of Counties.

"Insurance rationing by the leading insurers is becoming the mechanism by which climate risk is starting to impact municipal issuers," said Triet Nguyen, vice president of strategic data operations at DPC Data.

The American High-Speed Rail Act has seen "some initial interest from Republican lawmakers – I'm working hard to get them on board too," said bill sponsor Rep. Seth Moulton, D-Mass.

California's Inglewood Transit Connector Project, Chicago's Red Line extension, New York-New Jersey's Hudson Tunnel and the Second Avenue subway would all win funds under the spending proposal.

The bill allows local governments to bypass public bidding and notice requirements in current P3 law.

States and local governments can use the funds to hire advisors to consider alternative delivery models for transportation projects.

"Cry me a river, Rep. John Garamendi, D-Calif., told officials testifying about grant funding problems in the infrastructure law. "You guys have never had it so good."

Detroit, which has several climate-friendly projects in the pipeline, is seeking a tax advisor to help navigate snag tax credits in the Inflation Reduction Act.

Sen. Paul's provision would block the central bank from buying state and local debt, a tool that muni advocates say is important to preserve in case of future pandemic-like events.

As Congress hammers out the 2024 transportation budget, state DOTs warn that a timing problem with the flow of IIJA money could lead to a "potential lapse" of highway funds by September.

The House Transportation & Infrastructure Committee is already looking ahead to fiscal 2025, prioritizing IIJA spending oversight, FAA reauthorization and the next surface transportation bill.

The urbanized area grant program makes up nearly half of the funds, with the New York-Newark area getting the largest tranche, at $1.24 billion.

Spaceports should have the same access to tax-exempt financing as airports and seaports, supporters say.

In addition to repowering the nuclear plant, the Palisades owner wants to build a pair of new small modular reactors, which would mark another first in the U.S.

The nearly $5 billion I-35 expansion has sparked a lawsuit from residents saying it would exacerbate the interstate's historic role as a racial dividing line.

The state has tapped JP Morgan and Wells Fargo as managers of the deal.

"This bill is aimed at providing more economic opportunity for our cash-strapped airports," said bill sponsor Rep. Chip Brown before the House passed it 98-2.

The potential federal funding "offers the best opportunity to begin to pay bond debt," the museum's CEO told bondholders.