Legal
Brooke Lierman, Comptroller, state of Maryland

Maryland's comptroller reports the state is projecting a $189 million drop in general fund revenue due to the unfolding effects of the One Big Beautiful Bill Act, which could result in the state decoupling from federal tax laws.

Community Standouts
New Issuance

Chris Berggren is vice president of sales and benefits practice leader at Pan-American Accident & Health, part of Pan-American Life Insurance Group. He and his team bring advisors and clients a wealth of industry experience, specializing in supplemental health and ancillary lines of coverage.

Chris Berggren is vice president of sales and benefits practice leader at Pan-American Accident & Health, part of Pan-American Life Insurance Group. He and his team bring advisors and clients a wealth of industry experience, specializing in supplemental health and ancillary lines of coverage.

Anatomy of a Deal
hallacy-john-bl357.jpg
MuniThink

The State of the Union speech fell short on infrastructure while the COFINA settlement in Puerto Rico shed a harsh light on revenue bonds.

Andrew Kalotay says taxpayers would have come out half a billion ahead had the issuer waited out the call date instead of refunding their exempt bonds with taxable paper for 14 transactions between 2018 and 2020.
MuniThink

Issuers routinely refund 5% bonds in year 10, and the resulting savings can be significant. It is notable that although refunding is typically associated with declining interest rates, 5% bonds are refunded even if rates rise.

Sign up for Newsletters
Get the must-read stories and valuable insights delivered directly to your inbox.
  • Daily Briefing
    Delivered Every Weekday
    Ideas that impact your business delivered to your inbox every day.
  • Intraday News Update
    Delivered Every Weekday
    Get notified on breaking news and events.
  • Primary Market Report
    Weekly
    Recap of articles on new issuance as well as Featured Deals on the week.