News and Information from Bond Buyer

The $33 billion funding gap in the authority's five-year capital plan is too big, the Senate majority leader and Assembly speaker said in a rejection letter.

President-elect Donald Trump's return to the White House promises sweeping tax changes that could impact the aspects of the tax-exempt bond market.

While Friday's muni session was muted, the damage of a volatile UST market, paired with low new-issue supply and year-end positioning, has weighed on the asset class in December.

A decline in debt service coverage drove S&P's four-notch downgrade for Salinas, California, sewer revenue debt, which it placed on CreditWatch negative.

The new Congress will have a full plate including deciding the fate of the Tax Cuts and Jobs Act and Internal Revenue Service funding in a legislature that's already showing cracks of disagreement.

Kotek has spent the past month working on a very busy agenda involving housing, fires, transportation and construction labor agreements.

High-yield funds saw outflows of $413.6 million compared to the previous week's outflows of $71 million.

Six Texas cities sued the state comptroller over a rule that altered where sales taxes would be collected on certain online purchases.

The battle over ESG investing is spreading in the Midwest, with the recent passage of an Ohio law and a decision by the Indiana Public Retirement System.

Analysts are unsure what the Federal Open Market Committee will do with monetary policy in 2025. The panel projects two rate cuts, but some analysts expect more, and others see fewer.

A new law and constitutional amendment will restrict how fast property tax bills can rise on homestead properties, impacting local governments.

In the remaining days of this year, "taxable rates continue to be pressured but munis are finding a stable, even supportive, bidside," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.

Moody's Ratings said the 2025 budget that passed Chicago's City Council this month won't materially alter the credit profile of the city, which it rates Baa3.

Howard Jarvis Taxpayer Association has until the end of January to file briefs in its case challenging San Jose's pension obligation bond validation.

The Trump administration will bring a shift in infrastructure priorities.

Several metropolitan districts, which finance public infrastructure for housing developments, tapped contingent liquidity for debt service payments this month.

Munis "continued their slide" last week as yields rose an average of 23 basis points across the curve as the Fed Chairman Jerome Powell signaled the Fed will take a "more cautious approach" on interest rate cuts next year, said Jason Wong, vice president of municipals at AmeriVet Securities.

S&P Global Ratings downgraded San Francisco's debt a notch to AA-plus from AAA citing weakened economic trends and deficit spending. Moody's Ratings lowered it's rating a notch to Aa1 in October.

The ratings agency cited strong and growing activity and favorable economic trends in the region.

The finally approved continuing resolution steers around the debate to raise the debt ceiling while funding repairs to the toll-supported Key Bridge in Baltimore, reimbursing DC for inauguration costs and transferring the RFK stadium site.