Economy

A series of toll rate reductions and discounts announced by the Maryland Transportation Authority on May 7 are a credit negative for the agency's revenue bonds, according to Moody's Investors Service.

A transit expert says a marijuana tax, should New York State legalize it, could help MTA close its capital funding gap.

A radio ad campaign targeting congressional leaders warns that inaction on the restoring the HTF imperils state highway and transit projects.

Moody's Investors Service said it downgraded Westchester County Health Care Corporation, N.Y.'s (dba Westchester Medical Center) rating to Baa1 from A3, affecting approximately $447 million of bonds.

Los Angeles Mayor Eric Garcetti announces new transportation technology advisor fellowship.

The authors of a new paper from The Hamilton Project at Brookings propose four short-term and three long-term ways to address the need for infrastructure investment in the United States, including a revival of the Build America Bond program.

To finance a major expansion, the Texas Children’s Hospital will issue $354 million of debt, including fixed and variable rate bonds.

Senate Democrats slam Republican leadership over lack of ideas for long-term highway fix.

Attorneys for All Aboard Florida told a federal judge that the private passenger train owners could close on $1.75 billion in tax exempt private activity bonds around June 8.

Standard & Poor's Rating Services said it lowered its long-term rating on the Massachusetts Development Finance Agency's series 2013F and 2009D bonds issued for the Southcoast Health System obligated group to A-minus from A.

Finance chairman Sen. Orrin Hatch is looking for the $11 billion needed to keep the HTF solvent through 2015.

A New York City Council panel approved zoning changes necessary to advance a 67-story office tower development with enhanced access to Grand Central.

Michigan Gov. Rick Snyder said Wednesday he would meet immediately with lawmakers to seek a legislative solution to raise new road money after voters Tuesday soundly rejected a tax referendum.

Chicago Mayor Rahm Emanuel has tapped public transit veteran Dorval R. Carter Jr. to take the helm of the Chicago Transit Authority.

Lack of action on a long-term transportation funding bill “is a joke,” said Sen. Claire McCaskill, D-Mo.

MTA Chief Thomas Prendergast wants New York City to contribute $300 million to the agency’s capital plan and $1 billion further for the Second Avenue line.

The North Carolina DOT picked a consortium headed by Cintra Infraestructuras S.A. to build a 26-mile express toll lane project.

The chairman of the Metropolitan Transportation Authority wants New York City to ramp up its contribution to the transit agency.

A federal lawsuit seeks to stop Ohio from using toll revenue from the Ohio Turnpike to finance non-turnpike related highway projects.

Average gasoline consumption falls to a 30-year low, threatening revenues from the main source of state and federal transportation funding.