Government finance

Common Good estimates the delays are adding $1.7 billion annually in lost opportunity costs and additional construction costs to the larger Gateway Development project, which includes a new Portal North Bridge in New Jersey.

GASB is accepting comments through Nov. 2 on its proposal to clarify the definition of a conduit debt obligation.

House Republicans want to make permanent the $10,000 cap on state and local tax deductions and the lower tax rates for individuals, both of which are due to expire at the end of 2025.

The report found that 61% of the 341 finance officers who participated in the survey anticipate negative future impacts on their city's financial health from the termination of advance refundings, while 35% said they already have seen negative impacts.

New York Gov. Andrew Cuomo sent letters to the Internal Revenue Service and to Treasury's Inspector General for Tax Administration threatening litigation and and asking for a probe of alleged undue political interference.

States would be barred from starting to require the collection and remittance sales taxes from online vendors located out of state until next year under a bill introduced by two Republicans in the Senate.

The median net pension liability in the nation’s 15 largest cities jumped 16% on a per capita basis in fiscal 2017, S&P Global Ratings said Wednesday.

NASBO Executive Director John Hicks said that deposits made to rainy days funds from budget surpluses will likely bring the total to more than $58 billion for fiscal 2018.

Brevard County will subsidize Bezos' Blue Origin with $8 million, though a recent court ruling says it can't issue bonds to raise the funds.

Wilshire Consulting said the aggregate funded ratio for U.S. state pension plans remained unchanged between and first and second quarters of 2018 at 70.8%, up 0.7 percentage points from the previous 12 months.

The proposed Treasury rules would limit states' use of charitable deductions as workarounds for the $10,000 cap on the federal deduction for state and local taxes.

Philip Howard, founder of the group Common Good, advocates measures to simplify government and end paralysis. Paul Burton hosts.

A report on cyber-related risks released Wednesday by S&P Global warned that “a successful attack on an entity with limited resources could have a credit impact.”

Multiple constitutional claims, including racial gerrymandering, are cited in lawsuits filed by the city of Stockbridge and Capital One Public Funding.

An estimated $69.1 billion of the $139 billion is already committed through a combination of insurance claims and federal disaster aid.

The cut has dropped from 6.6% in fiscal 2018 and 6.9% in fiscal 2017. The initial sequestration cut in fiscal 2013 was 8.7%.

As the nation’s most populous state with the largest economy, California could set the upper level benchmark for other large states such as Florida and New York that have not yet announced a sales tax remittance threshold.

Only a few of the 45 states that levy sales taxes have announced plans to begin implementation before the end of this year.

The Trump administration’s effort to publish a proposed rule comes just over two months after the IRS announced May 23 it was working on the regulations to enforce the $10,000 cap on what previously was an unlimited personal deduction of state and local taxes, also known as SALT.

Tax Reform 2.0 would make permanent the lower individual tax rates in last year’s Tax Cuts and Jobs Act that are scheduled to expire in 2025.