Election 2020

The Democratic governor will have continued powers to thwart proposed wealth taxes from progressive members of his party after Republicans prevented a veto-proof Senate majority.

Among the measures, Arkansas voters voted to make a temporary transportation sales tax permanent and Arizona voters raised income taxes on high earners.

The former vice president spearheaded the Obama administration’s implementation of the 2009 American Recovery and Reinvestment Act.

Democratic control of the Senate is considered crucial to many of the public finance sector’s priorities, although some muni groups are optimistic about 2021 with either party in the majority.

To little surprise, the Federal Reserve left interest rates unchanged. Refinitiv Lipper reported tax-exempt muni bond funds lost about $954 million.

Moody's deemed both the likely passage of San Francisco Unified School District's parcel tax and Los Angeles USD's $7 billion bond measure credit positives.

A change in status would have both upsides and downsides for the island territory.

Gov. J.B. Pritzker says preservation of the investment-grade status is "very important;" Illinois bonds traded wider after the income tax referendum failed.

Lynne Funk and Gary Siegel discuss how the election results will affect the municipal market, how the Fed moves forward and some winners and losers with bond ballot measure results and muni advocates who held onto their seats in Congress. (21 minutes).

Biden’s Electoral College count rose to 264, one state away from achieving the 270, according to the Associated Press, which called the former vice president the winner Wednesday in closely fought races in Wisconsin and Michigan.

Top-rated muni yields fell by as much as 10 basis points on the AAA curves on Wednesday the largest move better for the market since late April, early May. ICI reported $1.2B of muni bond fund inflows.

A victory by Republican Sen. Susan Collins in Maine has dimmed, but did not extinguish, the possibility for Democratic control of the U.S. Senate.

The legalization is projected to generate about $120 million for the fiscally stressed state once the market gets established, which won’t be for another two to three years.

After two failed efforts to bring light rail to one of Texas’ most congested cities, voters approved the Project Connect measure.

In unofficial election results, four Virginia cities appear to have won approval to open the state's first casinos; a dozen bond referendums won tentative approval.

The state's voters weighed in on a shrunken slate of school bond measures, a split-roll property tax, and a bond measure to fund stem cell research.

A nonbinding referendum on U.S. statehood was leading with more than 52% support, with more than 95% of votes counted, the Associated Press reported.

Their wins brighten the future of municipal bond-friendly initiatives in Congress.

The public finance industry would gain from the reinstatement of tax-exempt advance refunding and other muni-friendly measures under a Democratic sweep of the White House and both chambers of Congress.

Democrats entered the U.S. election hoping for a repudiation of Donald Trump that would sweep them back to power in Washington. Instead, they were denied their “blue wave” by the president and congressional Republicans who defied polls to make races for the White House and Senate control too close to call.