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

The state of Illinois is preparing to issue $600 million in new Build Illinois junior sales tax revenue bonds next week.

Caine Mitter & Associates and RBC Capital Markets moved into the top 10, while Piper Sandler & Co. and Kaufman Hall & Associates were bumped to the top 15.

Half of the top 10 issuers were new entrants: the California Community Choice Finance Authority, Main Street Natural Gas, the state of Washington, the Texas Natural Gas Securitization Finance Corp. and Illinois.

RBC ramped up business to land at second place and Jefferies rose to third while Raymond James entered the top 10, knocking Barclays to 11th. Citi, which exited the business, closed at sixth place.

After this week's sale, the state intends to issue another series of refunding bonds in February in connection with a potential tender offer for taxable GOs and a current refunding of some tax-exempt GOs.

A bill before the state legislature would create a public infrastructure bank, where municipalities could go to finance projects from affordable housing to bridges.

Despite the outperformance this week, and while the asset class had "a stellar December, which rounded out a very solid year," Barclays PLC strategists said the high-grade muni market has become "quite rich."

Judge says the issues can be considered at March's confirmation hearing.

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