Washington DC

The $10,000 limit on the SALT deduction caused an estimated 10.88 million individual taxpayers to lose $323.1 billion in tax deductions for the 2018 tax year.

Some market participants worry about the viability of a key muni advocacy talking point if enough midsize issuers begin to embrace the taxable market.

In formal comments filed with the federal government and separately to GASB, municipal finance groups have given the regulators generally high marks.

Each state would be guaranteed $25 million in bonding authority each year, with an additional $1.25 billion in authority allocated among the states according to rural population.

A bus line in Flagstaff received $17.3 million in grants to relocate its connection center and buy zero emission buses.

In 2012 John Cross became the first person to head the independent Office of Municipal Securities at the U.S. Securities and Exchange Commission.

The repeal will help states and cities move forward with bonding and future projects, especially as spring construction season is around the corner.

Total state spending increased 5.7% in fiscal 2019 supplied by a 4.7% increase in federal funding that was augmented by a 5.9% increase the use of state funds.

The Municipal Securities Rulemaking Board assigned muni market veterans to give input on rules and transparency related to municipal fund securities.

The winner is Christian Beltran, a student at the University of Southern California’s Sol Price School of Public Policy.

The council suggested the VCAP program would remain in place for issuers who need a legally binding agreement, but would become the third tier of a system that would offer two simpler options.

In a working paper paper released by the Volcker Alliance on Wednesday, researchers said states need to do a better job of disclosing their infrastructure needs.

Securities and Exchange Commission Chair Jay Clayton seemed noncommittal on a proposed exemptive order for municipal advisors.

Matt Posner started his new role as director of market structure-transparency on Monday.

About 27% of public and private universities will see a decline in net tuition per student in fiscal year 2020.

Though enforcement cases slightly decreased this past year, lawyers say the Securities and Exchange Commission is just as aggressive as ever.

Longtime IRS employee Allyson Belsome will serve as senior manager for the office of Tax Exempt Bonds.

The $1 billion bi-state agreement includes building a wider bridge over the Potomac and adding tolled express lanes.

“The channel doesn’t matter in terms of responsibility for the information,” said SEC Chairman Jay Clayton.

Clayton described the Secured Overnight Financing Rate known as SOFR, as “a good risk free benchmark.”