Washington DC

States have spent weeks preparing for how they would cover the $8 billion shortfall in food stamps for the month of November.

The MSRB plans to issue the request for comment regarding MSRB Rule D-15 "within the next week or so."

The Trump administration has denied an appeal for $33.7 million in FEMA relief funds for flood damage incurred in western Maryland, which ends the possibility of aid for a state already reeling from job losses.

"BDA supports the proposal and we encourage the commission to approve it," its letter said.

The government shutdown is wreaking more havoc as air traffic controllers will miss a paycheck this week and federal payments to states for housing bonds and Grant Anticipation Revenue Vehicle bonds may stop flowing.

The spending cuts and reforms to Medicaid and SNAP in the One Big Beautiful Bill will be phased in through 2028, but most states will start preparing early next year.

"I would say don't be afraid to pick up the phone and talk to investors directly," Nuveen's Molly Shellhorn said.

"Bond by bond, project by project the muni market has helped to build the spaces and places where American life unfolds," SEC Chairman Paul Atkins said in a speech delivered at the MSRB's 50th Anniversary Celebration Tuesday evening.

"I've never seen this level of hand wringing at the issuer level," said Matt Boles, managing director at RBC Capital Markets.

Yakym praised the successful effort to preserve the tax exemption throughout One Big Beautiful Bill negotiations and encouraged market advocates to keep lobbying lawmakers.

"It shows the chairman's understanding of the practical realities of firms...," Peter Chan, a partner at Baker McKenzie said.

Its triple-A bonds have recovered after cheapening earlier this year under a pressure campaign from the Trump administration.

"Going forward, the staff will provide the other side with at least four weeks to make Wells submissions," SEC Chairman Paul Atkins said in a recent speech.

"The project is not dead," said the transportation planning board chair.

The Trump administration's tariff policy is affecting vulnerable pockets of the economy including the construction industry, port operations and states with a reliance on international trade.

The Senate passed the ROAD to Housing Act, which should boost the use of mortgage revenue bonds, as a rider on the Defense Reauthorization Act.

"It is a big problem across the board with all types of deal participants perhaps venturing into unregistered MA activity," said Susan Gaffney.

The longer the shutdown of many federal government operations lasts, the worse it becomes for cities, states and other bond-issuing entities.

Bond attorneys are skeptical that new hires at the Treasury and the Internal Revenue Service will help the municipal bond community as two men now occupy four key positions.

Transportation Secretary Sean Duffy also defended the administration's funding freeze on major New York transit projects.