Washington DC

As Congress crafts the next surface reauthorization bill, states want to retain control over the bulk of the formula highway funds.

The state does not have the bonding capacity to independently rebuild the American Legion Bridge, the feds say. The state continues to hope for a federal grant to help cover the cost.

"I find this a very encouraging appointment," Peter Chan, a partner at law firm Baker McKenzie, said of Woodcock's appointment.

A second budget reconciliation bill is moving closer to reality, creating a mixed bag of challenges and opportunities for the municipal bond market.

"We need private capital," the transportation secretary said.

"I would much rather invest in the muni, both in terms of default rates and in terms of the yield that you're getting off of those," said Travis Lower.

President Trump's budget proposal for fiscal year 2027 includes $1.5 trillion for the military, while cutting FEMA's budget, privatizing the TSA, and increasing transportation funding.

Despite Congress' already long to-do list, factions in the Senate and House are posturing for the possibility of a second reconciliation bill that offers possibilities and threats for the muni market.

Rep. Sam Graves, House Transportation and Infrastructure Committee Chairman and supporter of tax-exempt munis announced he will join several other Republican Congressmen by not seeking reelection in November.

The homeowners insurance market in the U.S. "faces mounting strain from severe climate risk," Benjamin Collier and the other authors said in their commentary.

Guessing what may happen as Congress pounds away on a surface transportation reauthorization bill has not rattled credit ratings so far, but a key deadline could slip.

The current lateral recruiting marketplace for public finance attorney talent is "highly competitive," according to Nixon Peabody's Julie Seymour.

Some states and local governments "went on spending sprees" with pandemic funds and "got ratings upgrades that didn't have a lot to do with fiscal management," said an investor.

"Everyone that is in this industry relies on our technology," CEO Mark Kim said Thursday at a BDA conference in Chicago.

The MINT Act, which would enable Federal Home Loan Bank members to issue tax exempt bonds is working its way through committees in both House and Senate.

The MSRB should "eliminate all location-based concepts of supervision," SIFMA's Leslie Norwood said in a March 16 comment letter.

There is a lot of money out there, and investors seem comfortable putting it to work.

Congressional leaders are plotting out plans to land the surface transportation reauthorization before a September deadline.

Acting Director Sam Waldon "will be a steady hand for the division during this period, including for municipal securities-related enforcement activity," said Kathleen Marcus, a partner at Stradling.

The order from U.S. District Judge F. Dennis Saylor IV was issued at 5 p.m. Eastern Time on Friday.