Finance, investment and tax-related legislation

The 15% corporate minimum tax may hurt the muni market the most during outflow cycles by cramping demand and leading to higher borrowing costs for states and cities.

Democrats say the $740 billion legislation would mark the largest climate change mitigation investment in the country's history.

States and localities are in line for clean energy funding, some of which builds on grant programs in the bipartisan infrastructure law.

Issuers praised the bill's climate provisions while muni market participants said it's unlikely to significantly hurt demand for tax-exempt paper.

Republicans, who argue pandemic aid is partly to blame for inflation, have said the large aid packages came with too few guardrails.

The latest Congressional effort challenging the state and local tax deduction cap would stop the IRS from restricting state legislation that offsets the policy.

U.S. companies that will be affected by the new global minimum tax hold about 80% of the tax-exempt interest reported by all companies, business groups said.

Half of the infrastructure funding is going to the states, and cities should talk to their governors to ensure they see some of that funding, White House Infrastructure Advisor Mitch Landrieu told the National League of Cities Tuesday.

Washington state's future highway bonds would be bolstered by an additional revenue stream if the governor signs a bill approved by lawmakers.

Supported by the American Rescue Plan Act, signed into law almost exactly a year ago, cities "have come roaring back," the President said.

The American Rescue Plan Act helped cities avoid insolvency after the pandemic struck, some mayors said.

The U.S. Department of Transportation's budget swells to $140 billion from $80 billion with the omnibus and Infrastructure Investment and Jobs Act dollars.

The omnibus bill drops a controversial measure to claw back unspent state COVID funds and includes long sought-after language to ease the transition away from LIBOR.

Thirty states would have been affected by the plan to claw back $8 billion in unspent ARPA funds to offset the FY22 appropriation.

Sponsors of the Supporting American with Lower Taxes Act see it as a potential compromise on the contentious state and local tax deduction cap issue.

Some public finance, racial justice, and congressional advocates say baby bonds are needed like never before to combat wealth inequality.

Many Infrastructure Investment and Jobs Act funds can't flow without a FY22 budget

Bond Dealers of America's Brett Bolton sits down with Kyle Glazier to discuss the group's latest advocacy efforts and the outlook for legislation critical for the municipal market. (18 minutes)

The transition away from Libor presents challenges for small issuers with fewer resources to evaluate legacy contracts.

County executives said they need to protect against flooding, sea level rise, erosion and other climate change-related damage.