Biden Administration

Treasury's warning "would be absurd if it wasn't so serious," opined the NSSF, the firearm industry trade association.

Grant programs give the administration a degree of control over which projects get funded, similar to earmarks.

The Build America Bureau is poised to release awards for its asset concession program and preliminary guidelines for value-for-money analysis, two key P3 programs authorized under the IIJA.

In May, a bipartisan group of lawmakers sent a letter to the federal agencies responsible for the FDTA rulemaking, urging them to stick to the schedule spelled out in the law.

Vance has called for eliminating the SALT deduction, calling it "massively redistributive toward the lower- and middle-income brackets."

The largest grant, $1.49 billion, will go to the Oregon Department of Transportation to replace a pair of aging vertical lift bridges that connect Portland and Vancouver, Washington.

While the market awaits the initial FDTA proposal, some wonder if the rulemaking will be affected by the upcoming presidential election and the U.S. Supreme Court's Chevron decision.

Without legislation, the Supreme Court's Chevron ruling makes it "less likely" the U.S. will meet its stated climate goals, said Moody's Investors Service.

FEMA's rule is among the first adopted by a federal agency that will require federally funded projects to be sited and designed with future climate impacts in mind, according to the Natural Resources Defense Council.

GOP House bills feature spending cuts and some policy riders, including a provision in the Transportation and Housing draft bill that bans congestion pricing in New York.