Economy

Tourism raised $35.2 billion in taxes in 2022, consisting of $18.9 billion in federal tax revenue, $8.1 billion in state tax revenue and $8.2 billion in local tax receipts, according to a report.

Affordable housing expert Marian Zucker retired on Dec. 1 as head of S&P Global Rating's housing group after over 40 years of working in the public and private sectors of the municipal bond industry.

The governor proposed state funding for schools to slow the rise in property taxes. His Idaho Works program would provide $50 million toward $800 million in bonds to pay for water and transportation projects.

Lansing's Board of Water and Light is issuing $350 million of tax-exempt bonds in a deal that would fund a tender offer for $232.6 million of outstanding debt.

The Massachusetts Municipal Wholesale Electric Company deal, self-designated as green, will finance a soon-to-open 6.9 megawatt, 35-acre solar power project.

Office sectors in some Southwest cities, including Houston, are stressed due to elevated vacancy rates that may lower assessed values and property tax revenue.

Labor costs that continue to squeeze operating margins remain the biggest obstacle for the nonprofit healthcare sector.

Moody's also affirmed the A1 rating on the authority's $3.2 billion of general revenue bonds and the A2 rating on the $2.5 billion of general revenue junior indebtedness obligations.

Bonds used to buy eight senior living properties in Michigan and Ohio are likely to default within six months, S&P Global Ratings said.

Blaylock Van is bolstering its overall institutional capabilities and reaffirming its commitment to the muni market, said Leonard Jones, executive director of municipal banking and head of public finance, at the firm.

Medford, Oregon-based Asante Health enters 2024 with negative outlooks from Fitch and S&P as it works to complete expansion projects amid industry headwinds.

COVID made predicting the economic future even more difficult. While calls for a recession and rate cuts for this year didn't pan out, here's what experts see for 2024.

The reserve should have enough to cover bond payments for a year, according to an observer.

The stars are starting to align for the long-awaited bridge replacement which received a $600 million federal grant toward the project expected to cost up to $7.5 billion.

The Federal Open Market Committee meets Dec. 12 and 13 and in addition to their statement, they will issue a Summary of Economic Projections.

The deal includes $300 million of new money to embark on a $1.4 billion five-year capital plan.

The Plan of Action for Regional Transit asks lawmakers for $1.5 billion of new operating support for transit and at least $400 million annually of complementary capital investments.

Justin Cooper, Orrick's co-head of public finance, breaks down how states like Oregon, Washington and California are funding efforts to lessen their affordable housing and homelessness crises. Keeley Webster hosts (24 minutes)

"There weren't many exemptions made to paying the fee, which should help maximize revenues and make them more predicable when considering leveraging this new revenue stream for infrastructure improvements," said Howard Cure of Evercore Wealth Management.

The Equity in Infrastructure Project, created to generate opportunities for historically underserved businesses, hit 56 pledges at a California event.