Biden Administration

As of Tuesday, the federal website Regulations.gov listed 96 written comments on the proposed interim rule that will cover how this federal aid is dispersed through Dec. 31, 2024.

Biden called on Congress to amend the Social Security Act to include Puerto Rican residents for benefits. The Oversight Board has said the benefits would lead to $1 billion more per year to island residents.

The California treasurer also suggests adding flexibility to federal rail grants ,which are typically reserved for government projects, to include jointly undertaken public-private partnerships.

The ambitious spending envisioned in the bill is already getting pushback from Republicans.

If Congress does not act on the island’s Medicaid funding by the end of September, the funding shortfall would force officials to drop an estimated 800,000 people from the rolls.

The tax law proposals laid out by Treasury last week struck many muni advocates as too limited, ignoring the industry's biggest request — tax-exempt advance refundings.

Randal Quarles left open the possibility that he might remain in his role as a Federal Reserve governor after his tenure as vice chair for supervision expires on Oct. 13 — a move that would reduce the openings for the Biden administration to fill.

The administration also wants to enhance the Low-Income Housing Tax Credit that is often used for bond-financed multifamily housing projects.

The environmental impact ruling and record of decision are a major milestone for the multibillion-dollar Gateway infrastructure project.

U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley described the proposal as “a good faith offer and a significant step in the right direction.”

The $304.5 billion highway section might pave the way for further bipartisan agreement on a wide-ranging infrastructure package.

The overhauled funding stream would allow the IRS to fairly enforce the tax code, modernize its IT systems, and improve taxpayer services, according to the bill's sponsor.

The Senate highway bill proposes a national pilot program for a motor vehicle per-mile user fee.

Reinstatement of tax-exempt advance refunding bonds appears to have the broadest support because of its nearly universal impact on state and local issuers as well as nonprofits.

Bondholders tend to insist projects be well maintained, a potential advantage.

Rep. Richard Neal, D-Mass., the committee chairman, also called for reviving direct-pay Build America Bonds.

President Biden met Wednesday with top Republican and Democratic congressional leaders to discuss a bipartisan way forward on this issue.

Treasury’s 151-page interim final rule provides broad latitude for how the money can be spent.

The White House and a bipartisan cadre of lawmakers appear committed to getting infrastructure, including top muni market lobbying goals, achieved.

Treasury Secretary Janet Yellen said she was not predicting or recommending interest-rate increases when remarking earlier about the impact of fiscal spending on the U.S. economy.