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The Illinois penalty that raises borrowing costs for all issuers in the state may widen as local agencies and governments face likely cuts in state support.

The state doesn't expect any short-term borrowing to cover the current fiscal year, Gov. Ned Lamont said.

The New Jersey Infrastructure Bank has implemented a backstop municipal note program aimed at bringing fiscal stability to the state’s local governments as they grapple with the COVID-19 pandemic.

Despite severe budget stress, the city and state can take some meaningful actions, such as reviving the restaurant industry, expanding the role of P3s and rebuilding multi-purpose infrastructure, analysts say.

Tom Kozlik from Hilltop Securities explores the effects of Washington variables such as political risk on states and localities. He also discusses rating agencies and muni disclosure. Paul Burton hosts.

The coronavirus has created such a massive disruption to the world’s stock markets that almost all California public employee defined-benefit pension plans will never recover. At a minimum, they must be put on a fiscal ventilator.

A stratified credit differentiation can be expected to linger for the foreseeable future until revenue streams in sales-tax and other project-backed bonds are more fully restored. Pension obligation bonds are back in California.

Florida’s attorneys cite flaws and errors in a special master’s report to support overturning its conclusions.

S&P cited the state's growing structural budget gap resulting from an oil price plunge.

Sales taxes are a pillar of the Texas state budget, and the usually stable revenue source has taken a hit from the COVID-19 pandemic.