Investments

Lawmakers and advocates of U.S. tax credits like tax-exempt debt aren't getting many answers from Treasury about an impending global tax regime that diminishes the value of the tax tools.

A national high-speed rail coalition penned a letter to the state's Democratic leaders saying allocating bond funds for the state's high-speed rail project would encourage federal support.

Shorter-dated and high-yield credit will be more likely to succeed in the current volatile environment.

“The racial wealth gap is wide and growing and we need innovative policies like Baby Bonds to begin addressing it right away," says Shira Markoff of Prosperity Now.

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $2.669 billion of outflows, though down from $2.875 billion of outflows in the previous week.

Illinois' latest upgrade is its fourth over the last year and moves its general obligation rating three notches away from the cusp of junk, where it once sat.

Analysts agree with Moody's that the island still faces financial risks.

The infrastructure package features $5.4 billion to fight wildfires. Issuers like California's Yuba Water Agency say the money is a game changer. 

Outflows continue with the Investment Company Institute reporting $5.371 billion pulled from muni bond mutual funds in the week ending April 27. Exchange-traded funds saw inflows at $1 billion.

The local government's bond restructuring law specified the tax was to go to the General Fund starting on March 15.

The Oklahoma Turnpike Authority received state approval on Wednesday for a $200 million revolving line of credit to jumpstart its $5 billion expansion program, but will not be able to spend a portion of the money unless a lawsuit is resolved in its favor.

Joliet closed on two federal WIFIA loans that mark a milestone in the the city's plans to overhaul its water infrastructure.

The recovery is expected to continue this year and into next as the tourism industry looks to surpass 2019’s record-setting year.

Norman Mineta was a transformative force in transportation policy, capable of building bridges across the political aisle.

The state's Local Government Commission approved more than $1.5 billion in bond and financing agreements, including more than $600 million for the airports.

The municipal market was marked by some skittishness among investors on Tuesday as a new month gets underway.

The federal government regulates vehicles, while states generally regulate drivers, an unofficial division that creates confusion.

Opposition to the Oklahoma Turnpike Authority’s $5 billion, bond-financed improvement and expansion project is heating up with a lawsuit seeking to block it filed ahead of a meeting to consider initial financing. 

States face a multi-trillion infrastructure gap, which they need to address with a sense of urgency, a speaker at the Milken Institute Global Conference said.

Audit times for municipal bond issuers are on the rise, with the median reaching 164 days in 2020 compared with 147 in 2009.