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Vance has called for eliminating the SALT deduction, calling it "massively redistributive toward the lower- and middle-income brackets."

"Lobbyists have to be prepared for any eventuality," said Chuck Samuels, attorney at Mintz Levin and counsel to the National Association of Health & Educational Facilities Finance Authorities.

California's Inglewood Transit Connector Project, Chicago's Red Line extension, New York-New Jersey's Hudson Tunnel and the Second Avenue subway would all win funds under the spending proposal.

It was a good day for munis with larger deals clearing the primary and secondary trading showing a more constructive tone with triple-A yields falling a few basis points amid a stronger session for all markets.

Tourism raised $35.2 billion in taxes in 2022, consisting of $18.9 billion in federal tax revenue, $8.1 billion in state tax revenue and $8.2 billion in local tax receipts, according to a report.

Federal Reserve Bank of New York President John Williams said it's too early for officials to begin thinking about cutting rates as soon as March as they consider whether policy is restrictive enough to get inflation back to 2%.

"Although inflation has moved down from its peak — a welcome development — it remains too high," Powell said in the text of a speech Friday at the U.S. central bank's annual conference in Jackson Hole, Wyoming.

Not-for-profit community hospitals are drawing scrutiny for questionable business practices.

The bond division undertook two transactions last week to retire outstanding taxable public education capital outlay and state revolving fund bonds. The transactions used $200 million in program funds, along with additional money, to pay down $400 million in state debt.

Federal Reserve Bank of St. Louis President James Bullard, who called for aggressive interest-rate hikes to fight the recent inflation surge, resigned after 15 years in the position to become dean of a university business school.