State of Louisiana

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.

Despite an S&P rating upgrade ahead of this week's GO bond deal, Louisiana paid a wider spread to a 10-year benchmark than it did a year ago. Longer maturities saw tighter spreads on from a year ago.

"The upgrades reflect our view of Louisiana's demonstrated commitment to improving and maintaining reserves above levels that we consider very strong," said S&P.

The new governor and concessionaire on the $2.1 billion P3 have reached a revised deal that will lower tolls and provide a 15% equity contribution to the local area.

John Fleming, a four-term congressman and former Trump administration official, took office as state treasurer. Jeff Landry of the GOP was sworn in as governor.