Port Authority of New York & New Jersey

The Port Authority of New York and New Jersey’s planned $10 billion redevelopment of John F. Kennedy International Airport is beginning to take shape.

Transportation Secretary Elaine Chao said career employees within her department calculated only a 5% local funding commitment because the two states are relying on federal loan guarantees.

"We have to find new solutions," said Partnership for New York president Kathryn Wylde.

The Port Authority of New York and New Jersey is spending more than $364 million on the tunnel.

Inaction, significant new debt and failure to control labor costs and other cost drivers could pose major bondholder risks, says a Gurtin report.

The planned $12.7 billion billion project for a new dual-track rail tunnel linking New York City and New Jersey got the cold shoulder in President Trump’s $1.5 trillion proposal.

Ohio businessman Dan Slane said his list of 50 emergency and national security projects is "going nowhere."

Another week of modest muni volume is expected, as issuers offer more chunks of taxable bonds.

The Sales Tax Securitization Corp.’s second offering faced a tougher market environment.

Underwriters reportedly offered spreads to the Municipal Market Data’s AAA benchmark scale of 55 basis points on serials ranging from 2031 to 2038.