Michelle Kaske

New Jersey Department of Transportation commissioner James Simpson Thursday said Gov. Chris Christie’s administration is considering several options for replenishing the state’s Transportation Trust Fund.

Fitch Ratings yesterday upgraded the Long Island Power Authority’s $5.9 billion of revenue debt to A from A-minus. The rating agency also changed the outlook stable from negative.

Local governing bodies in New Jersey will now weigh in on hundreds of school district budgets that voters rejected in Tuesday’s election.

The Pennsylvania Department of Transportation yesterday released a plan that provides a framework for potential rail development during the next 25 years.

New York Gov. David Paterson held fast to his spending cuts and revenue proposals as the Legislature Monday evening passed a $4.61 billion emergency budget that will allow the state to continue paying its bills through April 25.

Puerto Rico yesterday entered the single-A category as Moody’s Investors Service released its recalibrated A3 rating with a stable outlook for the commonwealth’s general obligation debt. The prior rating was Baa3 with a stable outlook.

New Jersey Gov. Chris Christie’s budget philosophy is for the state and local governments to operate more efficiently with less revenue rather than increasing taxes or fees.

Jay Walder, chairman and chief executive officer of New York’s Metropolitan Transportation Authority, last week urged the municipal finance community to continue to support capital funding for mass-transit projects despite the economic downturn.

Sen. Robert Menendez, D-N.J., yesterday joined the ongoing rum-tax revenue debate between Puerto Rico and the U.S. Virgin Islands by filing legislation that would limit subsidies to rum makers to 10% of a territory’s yearly rum-tax revenue.

New Jersey Transit yesterday approved a system-wide fare increase of 22% to generate $126.6 million of new revenue and help close the agency’s estimated $300 million fiscal 2011 deficit.

HARRISBURG, Pa. — The Harrisburg City Council Tuesday evening approved the appointment of three board members to the Harrisburg Authority, with the expectation that the new members will help the agency address its $282 million of outstanding incinerator debt.

HARRISBURG, Pa. — Harrisburg, Pa., Mayor Linda Thompson yesterday delivered her first state of the city address, pledging to work with stakeholders to tackle $282 million of outstanding incinerator debt and bring Pennsylvania’s capital city into fiscal solvency.

Massachusetts has $1.07 billion of private-activity borrowing capacity in 2010, with the state rolling over $482 million of unused PAB volume from 2009.

New Jersey voters could weigh in on whether to allow legalized sports betting if lawmakers approve placing the question on November's ballot.

The Massachusetts Bay Transportation Authority last week approved a five-year, $3.8 billion capital spending plan that includes $800 million of bonds to support mass transit infrastructure improvements in the greater Boston area.

Bank of America Merrill Lynch will pay New Jersey $4.87 million and repurchase auction-rate securities sold to investors in a settlement agreement over alleged misinformation regarding the floating-rate securities.

New Jersey's nonpartisan Office of Legislative Services projects that fiscal 2010 and fiscal 2011 tax collections will come in almost $250 million below Gov. Chris Christie's revenue estimates, due in part to sluggish sales tax receipts.

Pennsylvania and municipal officials within the next two weeks could finalize a potential forbearance agreement regarding $282 million of Harrisburg Authority incinerator bonds that would give the city 90 days to craft a repayment plan.

Pennsylvania Gov. Edward Rendell yesterday called for a special legislative session to find $472.5 million for fiscal 2011 transportation needs as the Federal Highway Administration denied, for the second time, the state’s request to implement tolls on Interstate 80.

Fitch Ratings yesterday released its recalibrated rating of BBB-plus on Puerto Rico Aqueduct and Sewer Authority bonds that are backed by the commonwealth’s guarantee, two notches above the previous rating.