Northeast

Skepticism continues, even as New York Gov. Andrew Cuomo led a cheerleading tour through the $11 billion project site under Grand Central Terminal.

Proceeds of the general obligation bonds will fund new capital projects and refinance debt, state Treasurer Beth Pearce said.

The environmental impact ruling and record of decision are a major milestone for the multibillion-dollar Gateway infrastructure project.

Even with a 23.3% year-over-year drop in May, with five months now officially in the books, long-term muni volume stands at $169.45 billion, ahead of the $157.96 billion issued in 2020.

Given that subway safety concerns could impair a rebound from COVID-19, recent spikes in crime and levels of policing triggered spirited discussion at a board meeting.

The state's momentum with rating agencies continued when Fitch elevated its special tax obligation bonds to AA-minus.

It could take the nation, heavily influenced by New York and California, 18 months to return to full employment, Fitch Ratings said.

Rhode Island Health and Educational Building Corp. is marketing the $127 million issuance as social bonds.

While Jacques Jiha cited improved outlooks to stable from Moody's and S&P, skeptics warned of inadequate use of federal aid and lingering outyear budget gaps.

Eli Dvorkin of the Center for an Urban Future suggests how New York City can save millions by improving its capital construction process. He also examines the city's tech growth. Paul Burton hosts. (23 minutes)