Economy

New Jersey Gov. Chris Christie on Friday afternoon said he would reconsider killing a multibillion tunnel project after meeting with U.S. Transportation Secretary Ray LaHood.

The Metropolitan Transportation Authority at a special board meeting on Thursday approved fare hikes expected to yield an additional 7.5% in revenue.

The Santa Rosa Bay Bridge Authority board will work with bondholders to establish a creditors' committee in hopes of restructuring $115 million of debt for a toll bridge in northwest Florida that is headed for default next year.

New Jersey Gov. Chris Christie ­terminated an $8.7 billion passenger-rail tunnel project Thursday that would have doubled NJTransit rail capacity between New York City and northern New Jersey and created at least 6,000 construction jobs.

A planned merger between Southwest Airlines and AirTran Airways is expected to put more stress on U.S. airports, especially those that rely on either or both of the discount carriers for bond-related revenue, Moody's Investors Service warned in a report this week.

New Jersey has spent nearly $600 million on a new $8.7 billion passenger-rail tunnel called the Access to the Region’s Core, but Gov. Chris Christie may ­terminate the project due to escalating costs.

Westchester County Executive Robert Astorino wants to join a lawsuit challenging the legality of a tax enacted last year to help fund mass transit capital projects in the New York City area, he announced Wednesday.

CHICAGO — Chicago-based BMO Capital Markets has hired senior public finance health care banker David Johnson and three of his colleagues from Ziegler Capital Markets for its merged higher education and health care practices, and named a fouth colleague to lead its strategy and analytics efforts.

The secretary of the South Carolina Department of Transportation is recommending a 5.5 cent increase in the state’s gasoline tax, which is among the lowest in the country.

Despite questions being raised about the cost of high-speed trains as November elections near, Florida is moving forward with the first phase of its $2.6 billion rail project from Tampa to Orlando.

BRADENTON, Fla. — The Atlanta City Council on Monday gave unanimous final approval for the sale of up to $800 million of revenue bonds to finance the completion of a new terminal at Hartsfield-Jackson Atlanta International Airport.

New York gubernatorial candidate Carl Paladino said Tuesday he would repeal a tax meant to support bonds for New York City transit projects, slash Medicaid, and cut personal income taxes.

Milwaukee County last week sold $31.5 million of new-money revenue bonds for projects at General Mitchell International Airport and $56.3 of refunding airport revenue bonds.

Moody’s Investors Service upgraded to Aa3 from Baa2 its rating on St. Luke’s Hospital after it officially joined ProMedica Health System.

DALLAS — Standard & Poor’s and Fitch Ratings downgraded the Utah Transit Authority’s debt as it prepares to issue $200 million of Build America Bonds.

WASHINGTON — The Internal Revenue Service has told the Toledo-Lucas County Port Authority that $3.5 million of development revenue bonds it issued in 2005 to finance a manufacturing facility could be ­taxable.

After heated debate, New Jersey lawmakers Monday approved a $1.4 billion Transportation Trust Fund Authority debt restructuring deal that also includes new-money bonds.

The House last week approved a bill that would allow state transportation departments and other tolling entities to offer discounted tolls to residents and nearby commuters, as individuals challenge the discounts in at least three lawsuits against tolling agencies.

A $1.4 billion New Jersey Transportation Trust Fund Authority deal is caught in a political stalemate as the state’s Department of Transportation announced Friday it would halt all state-funded transportation projects until the Legislature approves the bond sale.

Congress and the Obama administration would be wasting an opportunity to revive infrastructure if they set up a national infrastructure bank and its investment-selection process the same way that existing programs are structured, an economic analyst said here Friday morning.