New York

"There weren't many exemptions made to paying the fee, which should help maximize revenues and make them more predicable when considering leveraging this new revenue stream for infrastructure improvements," said Howard Cure of Evercore Wealth Management.

The Metropolitan Transportation Authority's potential budget gaps could widen to nearly $900 million in 2026, according to the Citizens Budget Commission.

"The market has had a solid tone to it recently even with the strong rally seen this month," Roberto Roffo, managing director and portfolio manager at SWBC Investment Management, said of the Nov. 10 rally where municipal yields in 10 years fell by as much as 40 basis points.

The Port Authority's proposed 2024 budget of $9.3 billion includes capital spending of $3.6 billion, above levels set pre-pandemic for the first time.

The Bay Area Rapid Transit was highlighted in the report on agencies still struggling.

Without a lot of additional state and federal aid, New York City is forecasting it will spend about $12 billion in costs related to the influx of migrants to the city in fiscal years 2023, 2024 and 2025.

Mayor Eric Adams says the city has a safe and effective way to use artificial intelligence throughout municipal government while protecting against the risks.

The top five bond financings have an average dollar volume of more than $1 billion.

The constitutional amendment removes a special debt limit placed on small city school districts; now they will be treated the same as other school districts.

October's total volume rose 29.3% to $37.156 billion in 661 issues from $28.738 billion in 614 issues a year earlier. New-money grew more than 30% while refundings were up by nearly 75%.

Gov. Kathy Hochul this week signed into law a trio of bills passed by New York's Legislature leveraging state resources to accelerate affordable housing in New York City.

The upgrade "reflects a material improvement in the MTA's fiscal outlook, which was largely driven by New York State increasing the maximum rate of the payroll mobility tax," Fitch said.

"Transmission is often a pressing need. Routing power around more efficiently with fewer losses helps to maintain the integrity of the system," said John Hallacy.

Surpassing $150 million in total investments, New York, Illinois, Pennsylvania, Texas, Ohio, Arizona and Georgia have joined Florida, Miami-Dade and Palm Beach counties and Miami Beach in supporting Israel financially in the wake of the deadly terror attacks by Hamas.

The top five bond financings have an average dollar volume of more than $1.2 billion.

As valuations got richer after muni outperformance this week, Barclays strategists expect munis to be "truly tested in the next several weeks, with supply picking up."

In January 2022, mobile sports betting went live. With a 51% tax rate on gross gaming revenues, New York, Rhode Island and New Hampshire have the highest gaming taxes in the nation.

"Further declines could weaken New York's tax revenue from the securities industry and have repercussions for our state and city budgets," said New York State Comptroller Thomas DiNapoli.

Minutes from the September Federal Open Market Committee meeting were "not much of a market mover" Wednesday, said Scott Anderson, chief U.S. economist and managing director at BMO Economics.

Peter Lam has served as bond counsel to state and local issuers for public and privately placed bond issuances.