Infrastructure

Congress has not authorized a fresh revenue source for the Highway Trust Fund in three decades.

The bill would create a not-for-profit corporation modeled after California's IBank, but with more flexibility to handle large-scale projects, backers say.

Washington lawmakers delivered a balanced budget after tweaking program cuts and tax increase plans multiple times.

S&P revised the outlook for the Maryland Transportation Authority's outstanding revenue bonds to negative from stable due to the timing of the federal funding needed to rebuild the Francis Scott Key Bridge that was damaged by a cargo freighter in March 2024.

Tariffs imposed by the Trump administration are already affecting port operations as Moody's has revised the U.S. ports sector to a negative outlook reflecting an expected 7%-12% decline in volume.

The state plans to price $626 million in GOs, in part, to fund the I-5 bridge replacement

"Federal grants come with a clear obligation to adhere to federal laws," said Transportation Secretary Sean Duffy.

A mix of pay-as-you-go, bond proceeds and federal grants bolster the infrastructure of Mobile, Alabama, which is getting a new arena, air terminal and bridge.

Chicago's Regional Transportation Authority plans to return to market next Monday with $130 million of Series 2025A general obligation bonds.