Maryland

The Trump administration has denied Maryland's request for Federal Emergency Management Agency funding to aid communities on the western side of the state who were flooded out in May.

The effects of the One Big Beautiful Bill have yet to make a dent in state and local budgets as market experts and academics look into the future with concern.

Moody's has downwardly revised the outlook for Baltimore's issuer rating and several classes of bonds due to a trend of declining fund balance levels in a city dependent on a major international shipping port.

The state of Maryland is going to market on Wednesday by selling $1.56 billion of general obligation bonds, which will be the first major sale since the state absorbed a credit downgrade from Moody's.

Maryland is preparing for upcoming bond sales as the state treasurer responds to a Moody's downgrade by suggesting the state part ways with the rating agency.

Moody's downgrading of Maryland's credit rating is resulting in finger pointing among state lawmakers, questions about spending levels, and concerns about the state's spotless record.

State officials called the one-notch rating cut to Aa1 with a stable outlook "a Trump downgrade" due to the state's heightened exposure to presidential policies.

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.

Maryland lawmakers proposed a new tax on business-to-business transactions to close a $3 billion budget gap amid the firing of thousands of federal employees.

The Maryland Department of Transportation moves to shore up its debt service while funding bridge repairs, airport modernization, and rail improvements with a $21.2 billion budget commitment.