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Washington D.C. is trying to follow the lead of many states that have decoupled their tax policy from the provisions of the One Big Beautiful Bill Act, but Congress is signaling disapproval which would result in a budget shortage.

Potential buyers besides Emory University include Georgia-based health systems, other proton therapy operators and private equity firms.

While fixed-spread tenders may be a novelty for tax-exempt bonds, they have been around for over 40 years for corporate bonds.

Terance Walsh, a 2025 Bond Buyer rising star, was named a partner by Nixon Peabody. 

An Indiana bill would address some concerns that were raised around 2025's Senate Enrolled Act 1, which created questions about local government credit quality.

The ratings agency revises the outlook to negative

Supply should be "well-received, given strong inflows and the increase in reinvestment capital for the new month," said Chris Brigati, managing director and CIO at SWBC, and Ryan Riffe, senior vice president of capital markets at the firm.

"This would be an unnecessary change that would be difficult to administer and comply with and which would severely limit municipal entity choice," the Bond Dealers of America said in a comment letter.

Chicago Mayor Brandon Johnson has chosen Assistant Finance Commissioner Steven Mahr as the city's acting chief financial officer, two sources confirmed.

The government plans to use surplus funds from fiscal years 2022 to 2024 to fund the payments.