Under the proposed deal, the city would sell $650 million of judgment bonds to fund back pay for firefighters, whose wages would increase by up to 34% over the life of a new five-year contract.

Gov. Spencer Cox wrapped up action on hundreds of bills passed by lawmakers, including measures to boost or limit bond issuance and potentially put some outstanding debt at risk.

The compromise spending bill signed into law by President Biden keeps the government open, but whether that success is a sign of future cooperation isn't clear.

"The risks to achieving our employment and inflation goals are moving into better balance," Cook said.

The initiative proposed by business interests would amend California's constitution to prevent the state from approving tax increases without a two-thirds majority vote of the Legislature and voter approval.

To maintain the city's good credit rating and robust fiscal health, New York City Comptroller Brad Lander is also proposing a stronger debt management policy to make sure the city keeps its debt service below 15% of tax revenues.

The Washington refunding deal is built on an extraordinary optional redemption of Build America Bonds despite criticism from investors who hold them.

States' January revenues were down from a year earlier.

The deal announced by Mayor John Whitmire last week would end an eight-year-long impasse with the firefighters union and require $650 million of judgment bonds.

Broker-dealer advocates believe the agency is over-regulating the industry.

The securities industry accounted for roughly $28.8 billion in state tax revenue and $5.4 billion in New York City tax revenue for fiscal 2023, state Comptroller Thomas DiNapoli estimated.

Laws banning banks from underwriting municipal bond deals because of their fossil fuel or firearm policies dramatically boosted underwriting spreads, a business group's study said.

The traditional tax exemption "does take some of the volatility out," said Mark Ritacco, chief government affairs officer for the National Association of Counties.

Analysts ponder what the Fed will do this year with a March cut ruled out amid recent reports of higher-than-expected inflation.

California State Senate suggests deficit-shrinking cuts ahead of formal budget.

The $650 million settlement will fund back pay for firefighters, who will also get future wage hikes.

"Insurance rationing by the leading insurers is becoming the mechanism by which climate risk is starting to impact municipal issuers," said Triet Nguyen, vice president of strategic data operations at DPC Data.

"My 'One Philly Budget' invests $2 billion over five years in new operating and capital dollars focusing on five pillars — public safety, clean and green, economic opportunity, housing and education," said Mayor Cherelle Parker, the city's first woman mayor.

Gov. Tina Kotek sent a letter to transportation commissioners asking them to scrap a tolling plan for Portland-area highways that was seven years in the making.

In an April 2 special election, voters in Jackson County, home of Kansas City, will decide whether to impose a sales tax to fund a new baseball ballpark.