Southeast

Saying he is responding to a recent rating downgrade by Moody's Investors Service, West Virginia Gov. Jim Justice is seeking legislation that would allow him to furlough state employees to reduce spending.

The Louisiana Legislature ended a special session agreeing to budget cuts and using reserves to close a $304 million mid-year gap, while facing a $440.5 million shortfall in fiscal 2018 due to lower revenue estimates.

West Virginia Gov. Jim Justice said state officials failed to address budget problems that would have staved off a downgrade of the state’s GO bond rating to Aa2 by Moody's Investors Service.

Facing the loss of millions in federal funds, the Miami-Dade County Commission voted to comply with immigration authorities' orders to hold jailed undocumented inmates regardless of the cost to the county budget.

The Louisiana State Bond Commission approved a smaller-than-planned general obligation borrowing Thursday that will save the cash-strapped state’s general fund about $3 million.

Issuers across the Southeast brought $71.7 billion of municipal bonds to market in 2016, a 3.3% year-over-year increase that was generated largely by refundings.

The Glades Correctional Development Corp. in south-central Florida said that it received a preliminary Internal Revenue Service determination that its 2006 bonds violate the private activity use test.

West Virginia Gov. Jim Justice wants a higher gasoline tax to support up to $2.8 billion of road bonds.

Facing another budget shortfall, Louisiana Gov. John Bel Edwards will ask lawmakers to take up tax and budget reform measures.

Projects in South Carolina’s $5 billion infrastructure request includes interstate highway upgrades and harbor dredging.