Washington News from Bond Buyer

Philadelphia's economy has been growing. But deep cuts Pennsylvania may impose on the regional public transportion system could have serious negative impacts.

Treasurer Brad Briner said the unused money was in state accounts for years.

The state will tap reserve funds, close tax loopholes and cut spending to address a more than $1 billion shortfall in its fiscal 2026 budget.

Federal Reserve Gov. Christopher Waller criticized his fellow Federal Open Market Committee members for not cutting interest rates in July, but said he is "hopeful" that easing monetary policy soon can keep the labor market from "deteriorating."

The GOP reconciliation bill will cut $888 million in revenue from Oregon, state economists said, because its state tax laws conform with federal law changes.

Transportation Secretary Sean Duffy has announced plans to take over the operations at Washington Union Station while curtailing a $10 billion expansion project.

The rating agency cited increases in enrollment and improved net tuition revenues.

Federal Reserve Gov. Lisa Cook filed a lawsuit in federal court Thursday morning seeking an injunction against President Trump's "illegal attempt" to remove her from the Fed board. The suit claims Trump has not demonstrated "cause" for her removal under the Fed statute.

Transit expert and former MTA head "Train Daddy" Andy Byford is in charge of the $7 billion renovation.

The Southeast Pennsylvania Transportation Authority implemented drastic cuts and warned that more cuts and fare hikes are on the way without state funding.

Big changes made by the House to a high-priority bill targeting cities and counties were rejected by the Senate, sending the measure to a conference committee.

The memo, which was sent to members of Congress, recommends a second round of reconciliation that would include the repeal of the municipal bond "tax exclusion."

Virginia Gov. Glenn Youngkin is touting a $4.7 billion reserve fund as he prepares to leave office and possibly seek a presidential run while an academic study predicts headwinds for the state's economy.

Legislation passed in Texas and other Southwest states this year seeks to increase or explore funding sources to finance water supply and infrastructure.

President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.

The state authority building the passenger rail project says it has a clear path to "achieving commercial success at the earliest stage."

Pres. Donald Trump is moving forward with plans to beautify Washington, D.C. by tasking Congress to find $2 billion dollars to improve city infrastructure while also threatening to rescind federal funds from efforts to rebuild the tolled Francis Scott Key Bridge in Baltimore.

Revenue generated by the bureau's 10 managed lane projects is, on average, exceeding original projections by 63%.

Ryan's selection may indicate an SEC aiming to resolve more violations by other means than enforcement actions, one lawyer said.

The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her "if she doesn't resign" over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.