Organization Root Tag

Andrew Rein of the Citizens Budget Commission and Howard Cure of Evercore Wealth Management dive into the New York City's operating and capital budgets. Paul Burton hosts. (38 minutes)

Gov. J.B. Pritzker is now willing to fully fund a scheduled education funding hike but other contentious issues remain, notably corporate tax breaks.

In Montana, two school districts and the state government reported that a new state law signed by the governor on May 6 will end the state tax deduction for certain school bonds after 2023 if those bonds are federally taxable.

The U.S. labor market remains in a “deep hole” and needs aggressive support to speed its healing from the COVID-19 pandemic, said Federal Reserve Bank of Minneapolis President Neel Kashkari.

It will probably take “quite some time” for Federal Reserve officials to conclude the economy has made substantial progress following Friday’s disappointing jobs report, Chicago Fed President Charles Evans said.

Federal coronavirus relief helps the city deal with immediate budget problems, but pensions loom large over the city's post-pandemic fiscal landscape.

SLGS are typically used by issuers of tax-exempt municipal bonds because of yield restrictions and arbitrage rebate requirements under the Internal Revenue Code.

Federal Reserve Bank of Minneapolis President Neel Kashkari said he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.

Two other banks set to underwrite the $634 million bond issue dropped out of the transaction after facing pressure from activists and investors.

A rising appetite for risk across a variety of asset markets is stretching valuations and creating vulnerabilities in the U.S. financial system, the Federal Reserve said in its semi-annual financial stability report.

Refinitiv Lipper reported $584 million of inflows, $341 million of which went to high-yield, as investors pull back on reinvesting to pay tax bills with the May 17 tax filing deadline looming.

Assured Guaranty and National Public Finance Guarantee gave their support to Highways and Transportation Authority and Convention Center District Authority revenue bond deals affecting $4.6 billion, solidifing their support for the central government deal.

The ratings agency also said it expects cruises will resume at modest levels in the second half of this year.

The change to monthly from quarterly revenue reports is a positive, the rating agency said, though the ordinance doesn't extend to expenses or cash flow.

Gov. Pedro Pierluisi said the bill was unconstitutional since it undermined contractual obligations with LUMA.

Observers say it is the beginning of the end of the central government bankruptcy.

The Biden administration wants to increase IRS funding for enforcement to close the gap between taxes owed and taxes that are paid.

Miami and Miami-Dade County are conducting studies of how to use cryptocurrencies in various local government capacities.

The U.S. Treasury kept its quarterly auction of long-term debt, planned for next week, at a record size to help fund the government’s continuing wave of stimulus spending.

Treasury Secretary Janet Yellen said she was not predicting or recommending interest-rate increases when remarking earlier about the impact of fiscal spending on the U.S. economy.