State of New York

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.

In the first half of the year, private-sector jobs in the Big Apple surpassed pre-pandemic levels as payroll gains outperformed the national growth rate. However, Mayor Adams says there is one big problem that "will destroy New York City."

"The improved rating outlooks are critical for the Power Authority to ensure that we can continue leveraging the capital markets," said NYPA President and CEO Justin E. Driscoll.

For the three-month period ending June 30, the fund's investments returned about 3.08%.

A federal initiative, focusing on states, and eventually, larger municipalities and authorities, that places a premium on enhancing transparency, is fundamental to improving the fiscal health of state and local governments.

Despite looming economic and social challenges, New York City's economy has proven to be more resilient than projected, New York's comptrollers Brad Lander and Thomas DiNapoli say.

Costs associated with the influx of migrants could cost the city more than $12 billion over fiscal 2023, 2024 and 2025.

"During this critical period for our state's future, I'm looking forward to having Blake Washington on my team," Gov. Hochul said.

Issuers are grappling with struggling transit systems in post pandemic.

Proceeds from the sale will be used to fund infrastructure projects in the city's $164.8 billion 10-year capital plan.

New York State Comptroller Thomas DiNapoli urged state agencies to do more to protect water systems from cyberattacks as Moody's Investors Service said cyber risks pose challenges to municipalities across the United States.

"Recent months have been trying for investors," said State Comptroller Thomas DiNapoli, "and there is no doubt that challenges lie ahead, with concerns over a recession and potential interest rate increases, but the state pension fund is well-positioned to weather these storms."

"His key role in the financial rescue of New York City following its near-bankruptcy in 1975 set Dick on a nearly five-decade path making sure such an event would never happen again in the city and elsewhere," said William Glasgall of the Volcker Alliance.