Biden Administration

Ambiguous language in the legislation is one of a handful of reasons why issuers have not taken advantage of the new financing tool.

Republicans argued the longtime transit and airport CEO lacked the experience necessary to head the FAA.

Airports are being squeezed by modernization demands and servicing existing debt.

Until now, the battle over the role of ESG factors in investing has played out on the state level.

President Biden's budget would allow large transit agencies to divert formula capital grants to operations in 2024, a move that one transit official said may hurt smaller agencies.

Even more uncertainty has been introduced into the municipal bond market as the Federal Reserve may have to tweak its monetary policy plans as the situation unfolds.

On the policy front, the budget would allow large urban transit agencies to use federal capital grants for operating costs and gives states more private activity bond volume flexibility for housing.

A U.S. default would trigger a cascade of downgrades, including of municipalities, Moody's Analytics says.

A total of 26 Republican-led states have sued over the new retirement investing rule, saying it would diminish their tax revenue and hurt states that have a significant fossil fuel industry presence.

His experience overseeing major infrastructure projects at public transportation agencies prepares him for the FAA job, Washington told senators.

"We urge you to use rescue plan money to make your community safer," Biden said. "Invest in affordable housing, get small businesses back on their feet, train your workforce." 

The scheduled expiration of the TCJA tax cuts "is the most significant factor pushing up tax revenues relative to income over the next 10 years," the CBO said.

New legislation on the high priority is on its way.

The political uncertainty could eat into the number of "clean weeks" for issuance, said Citi's Vikram Rai.

The $292 million federal grant comes from the Mega grant program for large, complex infrastructure projects, which had a "wildly competitive" first year, said Transportation Secretary Pete Buttigieg.

Inflation continues to wreak havoc on new construction rental projects that are still in the pipeline.

Treasury typically suspends the sale of new state and local government series securities when nearing the borrowing cap.

Missouri Republican Sam Graves, a professional pilot, has said he hopes to achieve a bipartisan reauthorization of the federal aviation budget, a key item for the committee this year.

The SEC is required to consult with municipal market participants when crafting the new disclosure data standards.

The crisis over House leadership raises risks for muni issuers, while investors say it's time to drill down to the individual credit level.