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The ruling comes as the municipal bond market closely watches the administration's effort to control federal infrastructure spending.

The federal budget bill lowered the percentage of private-activity bonds needed for affordable housing projects to qualify for 4% tax credits, but it hasn't been the boon expected.

Municipal market professionals aren't confident that state and local governments will invest in resilient infrastructure over the next five years.

Mikie Sherrill in New Jersey and Abigail Spanberger in Virginia both campaigned for governor on pocketbook issues — lowering costs, expanding child care and restoring stability after months of economic turbulence and a government shutdown that's stretched past five weeks.

Illinois' General Assembly passed a bill that provides both governance reforms sought by lawmakers and funding to avert a Chicago transit fiscal cliff.

A rundown of the largest bond referendums.

Daily report for November 05, 2025

Tuesday saw a good slate of deals, including the acceleration of Ohio's $508.865 million of GOs and Austin's $419.035 million of electric utility system revenue refunding bonds.

Moody's revised the outlook on the Chicago Board of Education to stable from positive on Monday.

Muni experts discussed how macroeconomic concerns and a volatile political environment are affecting the market as the market chalks up another record year of issuance.

House Republicans hope to mark up the next surface transportation bill early next year.

Municipal bond insurance volume grew 17.7% year-over-year in the first three quarters of 2025, according to LSEG, outpacing the municipal market as a whole.

Concerns over the Texas city's future water supply after a desalination project was terminated, led to negative rating outlooks from Fitch and S&P.

Municipal water agencies are appealing to the Environmental Protection Agency about a slowdown in the Water Infrastructure Finance and Innovation Act loan program which along with bond sales, funds improvements to water and sewer infrastructure.

Federal immigration and trade policies are a likely factor in the triple-A-rated state's weak job growth and pose risks for its southern border cities' budgets.

Daily report for November 04, 2025

In her first public appearance since President Trump moved to fire her from the Federal Reserve Board of Governors, Fed Gov. Lisa Cook reiterated her commitment to bringing inflation under 2% and said that the labor market remains "solid."

"Normalized supply, a supportive rate environment and favorable technicals propelled the municipal market to the best October performance [in decades]," said Robert J. Lind.

Attorneys for the Archdiocese said it is "inevitable" bondholders will be hit with a cramdown.

Meanwhile, the Brightline West train project has floated a possible debt exchange ahead of its own mandatory redemption later this month.