Washington DC

State auditors will continue to be represented on the Governmental Accounting Standards Board after Chairman David Vaudt ends his term June 30 although not as the chairman.

Municipal market participants assume there will be more volatility in the market in the months to come and that the federal government may need to up the ante on some of its current programs.

Municipalities tend to face challenges when calculating their net investment and capital asset calculations, accountants found.

The National League of Cities and other groups such as Moody’s Analytics are warning that a nationwide economic recovery will be at risk of stalling if Congress fails to provide more aid.

Highlights of a House Democrat legislative package include a new series of taxable direct-pay bonds that would start with a federal 42% subsidy for interest expenses.

Lawyers say there could be some nuanced changes on how the SEC approaches enforcement if Clayton does leave for the U.S. Attorney job.

The House's Invest In America Act is part of a larger infrastructure package that includes sought-after bond provisions.

Besides navigating coronavirus market disruption, investors also find themselves dealing with the increasingly important and often inconsistent climate risk disclosure.

The Senate minority leader told advocates to lean on 21 key Republicans. "Everyone has friends and family in other states," he said.

The Move America Forward Act would permanently reinstate Build America Bonds, advance refundings and expand the issuance of private activity bonds.

Social distancing has some issuer officials questioning how much government infrastructure they need.

Jerome Powell agreed with senators who said the slow pace of economic growth following the Great Recession was partly due to spending cuts made by state and local governments.

Primary market COVID-19 disclosures increased to 2,926 filings from 2,529 the week prior. Continuing disclosures increased to 6,107 filings from 5,677.

House Natural Resources Committee Chairman Raul Grijalva last month introduced a bill to amend the 2016 Puerto Rico Oversight, Management, and Economic Stability Act.

The National League of Cities estimates only $8.8 billion of the $150 billion Coronavirus Relief Fund had gone to municipalities and counties under 500,000 population as of June 10.

Municipalities have been counting on another round of stimulus from the federal government.

A water advocacy group asked policymakers to create a muni bond short-note program specifically for water utilities.

If additional federal aid is not approved in July, one NLC official predicts there will be “a cratering of local budgets.”

Municipalities are making draws on reserves as revenues fall due to the pandemic.

Despite changes made to the Fed's Municipal Liquidity Facility, lawmakers say smaller communities in populous states are left out.