Washington DC

Thirty-five states reported general fund collections for fiscal 2020 from came in lower than original budget projections.

The firm violated municipal advertising and fair dealing rules, the SEC found.

Fitch Ratings said Tuesday the $900 billion “will help stabilize state and local budgets in fiscal 2021 even if it does not include direct aid to most governments.”

SEC Chair Clayton told Rep. French Hill, R-Ark., late last week that he expects the program to sunset at year's end as scheduled.

"If you bankrupt the states, you bankrupt the country,” said NGA Chairman Andrew Cuomo, the governor of New York.

Congress is set to pass a major $900 billion relief bill on Monday after getting over a significant hurdle from Senate Republicans seeking to restrict the Federal Reserve’s powers next year.

Multiple news articles, which the SEC did not include, contradict the commission's major reasoning for why a temporary exemption for municipal advisors was needed, SIFMA said.

Senate Majority Leader Mitch McConnell suggested state and local governments would use stimulus to shore up pension plans.

FINRA announced the settlement this week, in which RBC agreed to a censure while neither admitting nor denying FINRA’s findings that it violated Municipal Securities Rulemaking Board Rule G-27 on supervision. RBC was not fined.

AAPA contends Congress should provide aid to ports as the industry has been hammered by COVID-19.

It substitutes the $160 billion in direct aid to state and local governments that had been proposed with direct checks to individuals.

The former South Bend, Indiana mayor understands the needs of state and local governments, though he lacks experience running a large organization.

The bill includes money for coronavirus vaccine distribution, schools, transit, airports, small business, and the unemployed.

The SEC said the court should oppose SIFMA's motion to include news articles in the proceedings, saying the group relied on only one rationale.

The number of issuers using a temporary exemption jumped to 101 in October from 35 the previous month.

The GFOA Debt Committee is working on issuing a similar Libor advisory in advisory in January or February.

As co-director of the Enforcement Division, Stephanie Avakian oversaw charges the SEC made against municipal bond “flipping” schemes.

A bipartisan group of eight senators on Wednesday released further details of their $908 billion framework for emergency aid, including $160 billion for state and local governments.

The reoccuring Water Resources Development Act is expected to pass the Senate this month.

Law firm appoints Robert Labes to head its public and infrastructure finance practice group with hopes for expansion if an infrastructure bill comes to fruition.