Infrastructure

The House is expected to pass a $1.5 trillion dollar infrastructure package, mostly along party lines, while a bipartisan Senate bill to restore advance refunding may build momentum in that chamber.

A state appeals court rejected the one of the state government’s attempts to eliminate the Miami-Dade Expressway Authority, but the legal battle continues.

Gov. John Carney signed a $703 million capital bond bill for fiscal 2021 that was reduced by $185 million due to revenue losses caused by the COVID-19 pandemic.

Citing market turmoil from the pandemic, a California conduit issuer gave the Virgin Trains USA project a five-month extension to sell $3.25 billion of debt.

The bipartisan Modernizing Agricultural and Manufacturing Bonds Act would expand the small issue manufacturing bonds and first-time farmer bonds programs.

The shortfall underscored advocates' calls to provide more dedicated funding to the statewide transit provider.

Protecting the tax-exempt status of municipal bonds and reviving Build America Bonds are priorities for the New Partnership on Infrastructure.

Highlights of a House Democrat legislative package include a new series of taxable direct-pay bonds that would start with a federal 42% subsidy for interest expenses.

The Move America Forward Act would permanently reinstate Build America Bonds, advance refundings and expand the issuance of private activity bonds.

Its $400 million GOs attracted investors, resulting in a record low interest cost of 2.31%, according to state Treasurer Shawn Wooden.

Andy Dillon and Michael Imber from restructuring firm Conway MacKenzie explore creative options for states and cities coming out of the coronavirus pandemic. Paul Burton hosts.

Shifting to smaller annual increases — after a 36% turnpike hike in September, the first in eight years — is credit positive, according to one rating analyst.

New Jersey Transit’s capital funding needs could get a boost from GOs if state lawmakers green light a proposal authorizing in new debt for the state.

Southern Co.’s long-troubled project to expand its Vogtle nuclear plant in Georgia is “highly unlikely” to meet state deadlines and is apt to face additional budget overruns, according to a local monitor.

S&P Global Ratings lowered the Port Authority’s special project bonds issued of behalf of JFK International Air Terminal LLC to BBB from BBB-plus.

The bi-state agency can apply to use the Federal Reserve’s Municipal Liquidity Facility, if it chooses.

Maine is planning a $119.4 million bond sale this week to improve roads, broadband, senior housing and public colleges.

The transportation agency plans a refinancing to combat lost revenue from steep traffic declines during the COVID-19 pandemic.

Without federal funding, many toll facilities will be forced to comply with bond covenant requirements, which could mean reductions in workforces and delays in capital projects, toll groups said.

Investors, while confident long-term about the transit authority, worry about immediate risks, Chairman Patrick Foye said in a letter.