Maryland's Capital Debt Affordability Committee is recommending the state stick to its guns by endorsing a plan to borrow up to $1.75 billion for capital projects in the coming fiscal year, despite the job shedding inflicted by the Trump administration's plans to shrink the federal government.

The bill was a response to a charter school fraud that took the state for $400 million, but Gov. Gavin Newsom said the proposed reforms were too expensive.

"The project is not dead," said the transportation planning board chair.

Federal Reserve Gov. Stephen Miran said Thursday that the central bank's forays into examining climate change and racial justice under the prior administration politicized the Fed. He also argued that Fed officials should limit their comments on economic policies such as tariffs.

The Southeast's states rely on federal funds more than those in other regions and analysts warn those funds may be ending shortly if the shutdown continues.

The city council took action to keep the property tax rate unchanged, a move that could punch a $53 million hole in the fiscal 2026 budget and drain reserves.

The Trump administration's tariff policy is affecting vulnerable pockets of the economy including the construction industry, port operations and states with a reliance on international trade.

Legislators and transit groups are pushing to get transit reform across the finish line this month, lawmakers and stakeholders said Friday.

A six-notch downgrade gives the financially troubled city a non-investment grade rating of BB-plus with a negative outlook.

California Gov. Gavin Newsom signed legislation that will place a regional sales tax measure on the November 2026 ballot to aid struggling transit agencies.

The Senate passed the ROAD to Housing Act, which should boost the use of mortgage revenue bonds, as a rider on the Defense Reauthorization Act.

The longer the shutdown of many federal government operations lasts, the worse it becomes for cities, states and other bond-issuing entities.

Bond attorneys are skeptical that new hires at the Treasury and the Internal Revenue Service will help the municipal bond community as two men now occupy four key positions.

A state appeals court found that a simple majority approval by voters was sufficient on a 2020 hotel bed tax measure that reached the ballot via initiative.

Chicago, Los Angeles and Portland will face economic costs from the Trump administration's showy deployments of National Guard troops and immigration agents.

The Department of Transportation is offering its Consolidated Transportation Bonds in a competitive sale Wednesday to what promises to be a receptive market.

The Texas Transportation Finance Corp deal will refund interim notes used to finance the ending of a public-private partnership that built toll lanes.

La Marque's two-notch downgrade from Moody's follows a rating cut last month by S&P; both agencies put the city on review for potential further downgrades.

Transportation Secretary Sean Duffy also defended the administration's funding freeze on major New York transit projects.

The three Puerto Rico Oversight Board members can resume their positions immidiately, District Court Judge Maria Antongiorgi-Jordan ruled.