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To help the city recover faster, former Lt. Gov. Richard Ravitch has proposed a dedicated state-approved revenue stream to provide additional funding for the transit system.
February 17
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While the Puerto Rico Senate would not take up a House-approved budget amendment that would allocate money to repay bondholders, analysts expect the Oversight Board to approve the funding.
February 17
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The climate change pilot program fund has attracted more than 40 interested parties seeking $47 million of funding.
February 17
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Market participants are wary that regulators may muddle ESG risk disclosure guidance with guidance regarding labeled bonds.
February 17
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Fitch's commentary suggests a rating upgrade from BBB-minus is in the offing if the governor's proposed budget passes.
February 17
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Democrats still want to move President Biden’s five Federal Reserve picks together through the full Senate. But the chamber’s rules will make that tough to accomplish unless Sarah Bloom Raskin can come to terms with GOP lawmakers opposed to her nomination.
February 16
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Rates could go up faster than they did in 2015 if predictions for the economy hold, minutes from the FOMC said, but the release offered no hints as to whether a 50 basis point liftoff would be considered.
February 16
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A new report from Merritt Research Services looks at potential post-pandemic problems for big cities that rely on taxes from commercial real estate.
February 16
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Issuer groups have sent a letter to the Internal Revenue Service requesting remote hearings be made permanent in connection with the issuance of private activity bonds as many issuers still grapple with remote working and ongoing COVID-19 concerns.
February 16
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Tax-exempt advance refundings are unlikely to be included in a FY22 budget, but two bills that would restore the popular tool remain alive.
February 16
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Graceland drew on reserves to cover the Jan. 1 payment on two bond series and three other series were unable to make their interest payments.
February 16
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Issuance of ESG bonds is projected to grow 23% this year, while the entire market only expands by 2%, S&P Global Ratings analysts said.
February 16
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The measure authorizes spending $10.9 billion from past years’ revenues for paying various Plan of Adjustment entities, including nearly $8 billion to pay bondholders and bond insurers.
February 15
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Municipal bonds' relative value has increased dramatically as rates have risen and credit fundamentals have improved, with municipal-to-Treasury ratios now on par with their five-year averages.
February 15
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Arent Fox and Schiff Hardin are poised to expand their public finance operations, creating a firm with more than 600 attorneys and public finance practices in four major U.S. cities.
February 15
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Alderman Patrick Daley Thompson, the grandson and nephew of Chicago mayors, was found guilty of federal charges of making false statement and tax fraud.
February 15
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Republicans on the Senate Banking Committee skipped its scheduled vote on five Federal Reserve appointees, preventing a quorum. Minority Leader Mitch McConnell echoed concerns raised about nominee Sarah Bloom Raskin, saying she wants the Fed to become an “ideological left-wing activist body” that interferes with private-sector credit decisions.
February 15
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“It’s important for the economy and the entirety of the American Rescue Plan that we see each county doing what it can for workers," Biden Senior Advisor Gene Sperling told the National Association of Counties.
February 15
