News and Information from Bond Buyer

Toll roads, registration fees and mileage-based fees are seen as the most sustainable options for replacing declining fuel tax revenue, but feasibility issues and political pressures complicate the way ahead.

Michigan's new revenue and economic forecast add billions onto existing surplus projections but officials also warn of looming economic headwinds.

The recommendation would build reserves toward a target of 16% of tax revenues in order to prevent drastic service cuts during a recession.

Elected officials in Republican-dominated states say S&P Global Ratings, by introducing ESG analysis, is politicizing the ratings process or even possibly acting illegally.

Given the volatility of risk assets is likely to remain high, and the focus on the flight to safety increases, all fixed-income assets could benefit as a result, including municipals, Barclays strategists say.

Several states have passed, or are considering, legislation to bar local governments from making payments to criminals who hold computer systems hostage.

The Forum honored Homer Schaaf of Norton Rose Fulbright, Kym Arnone of Jefferies, and Elizabeth Fine, of counsel to New York's governor, at the first in-person dinner since 2019.

The authority will takes steps to raise $1 billion to address expected growth of expenses.

The Port of Oakland cited supply disruptions in China for an April traffic decline, though Long Beach and Los Angeles posted gains.

A teachers' request was rejected, but another ruling could force the board to release documents it chose to withhold.

The temporary injunction halts all work on Pennsylvania's $2.2 billion Major Bridges program.

The city of 55,000 is the first to be slapped with the most severe Tier IV designation of the state's Municipal Accountability Review Board oversight program.

The office of Rob Bonta filed its objection to the dismissal with a California appellate court in San Francisco May 19.

Corrigan thrived on crisis situations, a colleague said. He received plenty of practice in 25 years at the Fed and another two decades at Goldman Sachs.

Refinitiv Lipper reported $2.712 billion of outflows, bringing the total outflows so far in 2022 to $65.8 billion, surpassing the last largest annual outflows of $63.5 billion during the Taper Tantrum in 2013.

The Biden administration’s pick for Federal Reserve vice chair for supervision faced questions about climate change, digital assets and the central bank’s independence. But he did not meet the same resistance from Republicans as the White House’s first choice, Sarah Bloom Raskin, observers said.

Some worry that governments will use new infrastructure funds for generic, shovel-ready projects, or even tax cuts, instead of collaborative plans that could transform regions.

Panelists at the NFMA 2022 annual conference said they aren’t holding out for advance refunding to be reinstated anytime soon.

The bulk of the first tranches of the $15 billion of IIJA funds will likely be used to figure out where lead lines are located, so states and water systems can determine the scope of the problem.

Chicago's preliminary projected gap in the next budget, when Mayor Lori Lightfoot has vowed to reach structural balance, is down from an $867 million estimate.