State of New York

The value of the fund rose from the $246.3 billion reported in the second quarter while returns improved to 6.18% in the third quarter from negative 1.59% in the prior period.

The deal comes following several toll increases — which have bolstered the authority's credit — that have also compelled a state senator to introduce a bill that would dissolve the authority.

Hochul's budget proposal for fiscal 2025 would preserve New York State's reserves at $19 billion.

The 2025 state budget would provided $2.4 billion to New York City to pay for the costs of caring for a rising influx of migrants, which includes taking $500 million from reserves.

Proceeds from the PMT green bond sale will be used to finance transit and commuter projects that have been approved in the N.Y. MTA's capital programs.

Moody's also affirmed the A1 rating on the authority's $3.2 billion of general revenue bonds and the A2 rating on the $2.5 billion of general revenue junior indebtedness obligations.

The county said this action will reduce its debt service costs by $115.9 million over the next six years.

More than one out of every 100 residents who pay income taxes left the Empire State during the pandemic in 2020, according to report released by state Comptroller Thomas DiNapoli. And, while slowing, the trend hasn't stopped.

The delays have led to a technical default by the design-build contractor on the $450 million project to design, finance, build, operate and maintain the Thruway's 27 service areas.

"There weren't many exemptions made to paying the fee, which should help maximize revenues and make them more predicable when considering leveraging this new revenue stream for infrastructure improvements," said Howard Cure of Evercore Wealth Management.

Without a lot of additional state and federal aid, New York City is forecasting it will spend about $12 billion in costs related to the influx of migrants to the city in fiscal years 2023, 2024 and 2025.

Mayor Eric Adams says the city has a safe and effective way to use artificial intelligence throughout municipal government while protecting against the risks.

The White House is expected to announce major grants for non-Northeast corridor projects, including potentially high speed trains, before year's end.

"Transmission is often a pressing need. Routing power around more efficiently with fewer losses helps to maintain the integrity of the system," said John Hallacy.

In January 2022, mobile sports betting went live. With a 51% tax rate on gross gaming revenues, New York, Rhode Island and New Hampshire have the highest gaming taxes in the nation.

"Further declines could weaken New York's tax revenue from the securities industry and have repercussions for our state and city budgets," said New York State Comptroller Thomas DiNapoli.

"We were pleased to achieve such strong results, especially in light of the recent volatile market conditions," said Philadelphia Treasurer Jacqueline Dunn.

Moody's also affirmed the A3 rating on the MTA's $20.6 billion of transportation revenue bonds.

The total economic impact from the almost 292 million tourists visiting the Empire State last year was roughly $123 billion.

"Coupling the costs of a national crisis that has fallen onto New York City with COVID funding that is running out and reduced revenue growth, our city's financial future may be at risk if we do not act," Mayor Eric Adams said.