News and Information from Bond Buyer

To work well, public policy in a democracy must be transparent and allow time for debate, input and analysis. The given time frame on the House GOP tax bill, which will have broad ramifications for infrastructure development, healthcare and higher education costs and affordable housing, provides little opportunity for a democratic process of debate and compromise to take place.

The Georgia Public Service Commission will determine if the twin reactor project at Plant Vogtle will go forward.

JPMorgan Securities won the week’s largest bond deal — Pennsylvania’s $974 million of general obligation bonds. In secondary trading, municipals were stronger at midday.

Labor market “activity increased modestly and momentum remained high in October.”

In a document rife with broken promises and misstatements about the muni market, the “Tax Reform” proposal beats up on the municipal bond market and state and local bond issuers to an extent never envisioned prior to the publication of that proposal.

Democrat Scott Stringer earned a second term by trouncing Republican Michel Faulkner.

Pennsylvania is set to hit the market with the week’s biggest offering — a $974 million competitive sale. Municipals were stronger, according to early trade data.

The top nine bond issues on ballots across the nation received approval from voters and the 10^th largest had 59.1% of the vote, with 60% needed, with slightly more than a quarter of the ballots counted.

Bill de Blasio won a second term as New York City mayor after a boisterous four-way bout that ended as many had expected — in a landslide victory.

The chair of the House committee that oversees Puerto Rico said after Hurricane Maria a "stronger mechanism" is needed to ensure Puerto Rico's recovery.

The first of the week's new issuance rolled in on Tuesday as strengthening municipal bond prices allowed underwriters to cut yields on some of the day’s larger deals.

State Treasurer John Chiang wants a study to consider a state bank for the legal pot industry.

House Ways and Means Committee Republicans rejected an effort to keep the full deduction for state and local taxes.

The Oklahoma governor urged lawmakers to end a six-week-long special session by closing a $215 million budget gap.

Consumer credit increased by $20.8 billion in September to $3.788 trillion, the Federal Reserve reported Tuesday.

Gov. Rick Scott said his final budget will request $180 million in tax cuts.

Muni market participants may not be ready in time to implement a pending markup disclosure rule on which regulators place huge importance.

A study says tolls on existing Interstates could make up for the loss of fuel tax revenue caused by more efficient vehicles.

The negative fund balance once totaled $138 million.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 3/4% coupon at a 1.750% high yield, a price of par.