Illinois trimmed revenue estimates for the current fiscal year and must absorb higher social services expenses next year leaving less budget room to maneuver.

The U.S. Supreme Court ruled against a journalist group seeking the release of a wide range of Puerto Rico Oversight Board information, which may have had an impact on the PREPA bankruptcy proceedings.

Despite a slump in state revenue figures, a Massachusetts Senate committee approved tax relief along the same lines Gov. Maura Healey proposed earlier.

UBS will compensate a Texas school district, which was forced to resell bonds after the state attorney general rejected the investment bank's contract to purchase the debt.

President Biden will ask the Senate to confirm Gov. Philip Jefferson for the No. 2 spot on the Federal Reserve Board; World Bank Group executive and Colombian-American Adriana Kugler for a vacant board seat; and Gov. Lisa Cook for a full term.

The measure, which passed both legislative chambers in lopsided votes, would strip the governor of his sole ability to appoint turnpike board members.

The Federal Reserve meeting May 2-3 will be closely watched for hints about what the FOMC's next move is. Join BNP Pariba U.S. Economist Yelena Shulyatyeva at 11 a.m. May 4 as she takes a look at the meeting and Chair Powell's press conference.

The choice of PFM's Jill Jaworski for the CFO position drew praise from the outgoing CFO and market participants who are watching closely to see whether the city stays on track with fiscal progress that has drawn more than a dozen rating upgrades across credits.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.

Lawmakers passed a stopgap $150 million loan fund for hospitals in fiscal distress, and will discuss longer-term solutions as the session progresses.

Democrats and Republicans each said the other party's position on ESG investing carries additional costs for states.

Washington Gov. Jay Inslee signed legislation Tuesday improving a tax increment financing program created in 2021 that wasn't working as intended.

Chicago Mayor-elect Brandon Johnson hopes to make an announcement on the CFO post before taking office Monday.

A bill passed this week would place a measure on the November statewide ballot to prevent growing home values from raising property taxes.

"This recent escalation of the Disney-DeSantis fight is unnerving, but it doesn't make that fight any more consequential for the municipal market," said Justin Marlowe of the University of Chicago.

The key question for issuers will be how lawmakers decide which funds are protected and which are open to being rescinded.

Many say continued lower rate would threaten U.S. Virgin Islands' financial solvency.

The acrimonious relationship between the university and its private partner has spilled into the courts and underscores that P3 deals don't remove all risks.

A downgrade of the nation's credit would shake the muni market.

State Senate Ways and Means Committee chair Patrick O'Connor said Gov. Maura Healey's tax proposals would remain largely untouched.