Organization Root Tag

Gov. Kathy Hochul's $252 billion state budget proposal calls for lower-bracket income tax cuts and one-time cash payouts for everyone.

The change, which marked a move away from recent norms, was made since President Donald Trump took office on Jan. 20, the people told Reuters.

MSRB believes "it's an appropriate time" to launch a holistic review of its municipal advisor rules, CEO Mark Kim said.

Investors added $741.7 million to municipal bond mutual funds in the week ending Wednesday, following $2.078 billion of inflows the prior week, according to LSEG Lipper data.

Dealer groups are urging the Municipal Securities Rulemaking Board to change the way it charges fees to municipal advisors.

State and local governments are on strong financial footing and are investing in Treasury securities as chaotic federal moves shake out.

Even with the possibility of inflation and fiscal policy-induced headwinds, there is much to be optimistic about in the muni market, despite some possible near-term turbulence, said GW&K strategists.

U.S. District Court Judge Laura Taylor Swain extended the bankruptcy's litigation stay to March 24 as mediators expressed hope about progress on a deal.

Legislation to create an education savings account program that would cost an initial $1 billion and serve nearly 100,000 students advanced out of a committee.

MSRB Chair Warren "Bo" Daniels stressed the importance of issuer feedback as beta testing for the modernized EMMA website continues.

The Fed meets this week, but the probability of another cut at Wednesday's meeting seems low amid elevated inflation and growth data, said Matt Fabian, a partner at Municipal Market Analytics.

The SEC's muni office chief stopped short of saying there might be enforcement imminent.

"There are a lot of moving parts here with the potential to either help or hinder the Fed's quest for price stability and maximum employment" this year, noted BMO Deputy Chief Economist Michael Gregory, who says the Fed will "stand pat."

The president suggested federal aid could be sent directly to states instead of through FEMA.

As state and local governments are charged with funding 3/4ths of the country's infrastructure, the catastrophic wildfires in Los Angeles highlight even more the municipal bond market's vital role in keeping the U.S. competitive globally and maintaining the heart of fiscal federalism at home.

Kroll Bond Rating Agency downgraded Chicago's general obligation bonds to A-minus from A, citing high fixed costs and one-time fixes. The outlook is negative.

Ongoing work to potentially simplify the new issue disclosure submission process and discussion of dealer supervisory obligations will be among topics on deck at the Municipal Securities Rulemaking Board's upcoming quarterly board meeting.

Bondholders say the Puerto Rico Energy Bureau is legally required to set rates to cover all bond principal and pre- and post-petition interest due. The board disagrees.

Chicago plans to sell roughly $830 million of general obligation bonds to finance its 2024-28 capital improvement plan, according to the city's finance team.

Some observers say Jenniffer González Colón, who took office in January, may be more open to compromise with Puerto Rico Electric Power Authority bondholders.