Washington DC

The GAO said that the $10.5 billion from the FEMA Public Assistance program might cover only about half of the $20.3 billion identified in Puerto Rico’s Grid Modernization Plan as necessary to repair the grid and make it more resilient.

Though President-elect Joe Biden has not provided specifics on the financing of his infrastructure agenda, sources say he will take an "all of the above" approach.

Sen. Mike Crapo of Idaho, who is expected to become chairman under a Republican Senate, has been receptive to increasing the limit on bank qualified debt.

Yellen will inherit an Office of State and Local Finance that has been a low-key operation since it was formed in 2014 to manage the Treasury’s response to Puerto Rico’s economic, fiscal and debt crisis.

The broker did not disclose conflicts of interest and altered documents, FINRA found.

Municipal finance is not a top-tier issue for treasury secretaries, but Yellen has taken a strong stance for more direct aid to state and local governments during the pandemic.

The Municipal Securities Rulemaking Board consolidated a few positions, eliminating its chief compliance officer role and promoting its CFO.

State spending grew 7.8% to cover the expenses of battling COVID-19.

Analysts, issuers and lawmakers have mixed responses to the closure of the Municipal Liquidity Facility with some saying the move puts the municipal market in a precarious spot as COVID-19 continues to ravage the country.

Dealerweb is a wholesale unit of Tradeweb Markets, a large fixed-income electronic trading platform company. FINRA found that Dealerweb failed to correctly report 147,000 trades.

Treasury Secretary Steve Mnuchin told Fed Chair Jerome Powell to end most emergency lending programs created earlier this year, including the MLF, on Dec. 31.

Former Pennsylvania Gov. Edward Rendell said President-elect Biden will move on a pandemic relief bill early in his presidency and a robust infrastructure package would soon follow. Others see scaled-down aid and an upward partisan battle.

No new negotiations are on the horizon as Washington lawmakers prepare to take a one-week hiatus from their lame-duck next week for Thanksgiving.

“This is a preliminary determination, not a proposed adverse determination or a final determination,” the county said.

The bill would increase the federal share cost of disaster relief for the COVID-19 pandemic to 100% from 75%. It is unlikely to pass in the Senate.

Candidates for the next U.S. Secretary of Transportation bring something new to the table than in previous years — deep understanding of the municipal bond market.

A federal judge has set a Feb. 10 deadline for the Oversight Board to file “an informative motion presenting a term sheet disclosing the material economic and structural features of an amended plan of adjustment.”

AASHTO elected only the second woman to serve as its president, and its first Black vice-president in its 106-year old history.

During his leadership, Clayton oversaw amendments to Rule 15c-12 and pushed for more transparency in the municipal market.

Eight measures in five states to legalize marijuana and in three states offering tax breaks for veterans received universal approval.