State of Louisiana

The city said it needed the money to be able to make payroll in November and December.

Recently enacted tax policy changes will help the state's finances, Fitch said.

Louisiana State Treasurer John Fleming indicated he is open to compromise on the nature of state oversight for the city, which may have trouble making payroll.

The city said it will take a wide range of measures to try to get through November and December without running out of money.

Among those approved is a $117 million variable rate demand bond expected to be marketed late this year.

The East Baton Rouge Sewerage Commission plans to achieve savings by refunding taxable bonds with tax-exempts.

State government own-source revenue declined 2.3% in fiscal 2025 from the totals in fiscal 2024.

The bonds, scheduled to price next month, will have JPMorgan as senior manager.

A legislative office predicted the tax cut package would lead to a loss of $500 million a year rather than be revenue neutral.

The commission also approved converting a GO bond sale from competitive to negotiated.

The bonds are to be sold competitively in April.

Dr. Shawn Wilson, former Louisiana Transportation Secretary, discusses the transformative Calcasieu Bridge project, lessons from public-private partnerships, and how the Infrastructure Investment and Jobs Act is reshaping U.S. infrastructure development.

While the new tax policies should address the state's projected deficit, rating agencies are cautious about the projected revenues and federal spending on Medicaid, which could impact Louisiana.

The state will try to convince the rating agency to lift its debt to AA, to match the rating others have assigned.

Unless the state government makes changes to taxes or spending, there will be deficits of $587 million to more than $800 million starting in the next fiscal year.

The commission also made changes to planned Louisiana State gas and fuel tax bonds of up to $1 billion

The state plans to price the bonds in early October.

The state bond commission approved Wells Fargo, Bank of America and JPMorgan as part of an underwriting pool Louisiana can hire on debt deals.

The state's new law requires companies like investment banks to provide written verification of their positions, part of a trend among similar bills aimed at preventing Wall Street banks from lying about their positions, said a firearms industry lobbyist.

John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.