Budgets

The White House has asked for an additional $37.3 billion to send to states and communities that faced natural disasters last year, including $600 million to Jackson, Mississippi, for its water crisis.

The RTA and its service boards are eyeing funding sources to avoid damaging service cuts and fare hikes as they exhaust federal COVID-19 pandemic relief.

"The MTA's structural gaps remain huge and demand immediate action and a multi-party, multi-year plan" says Citizens Budget Commission President Andrew Rein.

"An increase in social distancing and remote work has resulted in growing vacant office space since late 2020. Office rents have also trended down and remained depressed into 2022," according to the Popular Annual Financial Report.

With federal funding accounting for the largest portion of its revenue, Utah is mulling safeguards in the event of a future decrease.

The update noted the growth in the fiscal 2023 budget since its adoption last July was due to the approval of federal grants.

New York City will also release the first quarter update to the fiscal 2023 financial plan this month.

Seven years after dropping Chicago to speculative grade citing pension funding, Moody's returned the city to investment grade, citing pension funding.

Larry Kosmont, chairman and CEO of Kosmont Companies, discussed the interplay between state and local governments as electeds work to solve the state's housing crisis with Keeley Webster, a senior reporter for The Bond Buyer. (18 minutes)

New GO borrowing authority, a WIFIA loan for lead water service line replacement, and short-term airport financing are before Chicago City Council.