Chicago outgoing mayor offered a parting shot against pending state legislation that stands to add to city pension costs, but sponsors say the fix was promised and is needed to avoid violating federal rules.

The $3.3 billion Transportation Modernization act allows for P3s for roadway development, a first for the state.

"The funds made available to local governments in the American Rescue Plan Act have been a lifeline to our nation's communities," said National League of Cities CEO Clarence Anthony.

The proposed budget would add 400 more police officers and spend $1.3 billion on programs to ease homelessness.

Chicago's fiscal forecast has brightened and near-term surpluses should go to cover supplemental pension contributions and into reserves, Mayor Lori Lightfoot said as she prepares to hand the reins of city government to Mayor-elect Brandon Johnson

"Florida may have the statutory authority to abrogate an agreement, but  what does that say for things going forward?" asks Joseph Krist, publisher of Muni Credit News. "Why couldn't an anti-development administration do the same thing in reverse to somewhere like the Villages?"

It's unrealistic to ask transit agencies, even financially stables ones, to solve larger social problems like homelessness or inequity, says an expert.

Illinois' $2.45 billion GO sale should attract a wider investor audience with the higher ratings as the state seeks to raise new money for capital projects, fund ongoing pension buyout programs, and refund some debt for present value savings.

The bill follows the same lines as Gov. Maura Healey's tax relief package proposed in February, but comes with a smaller price tag.

Richmond Federal Reserve Bank President Thomas Barkin said he wants to see more evidence that U.S. inflation is easing back to the central bank's goal of 2%.

The House Republicans proposal to avoid a debt limit default relies on spending cuts and "capturing" unspent COVID aid.

Participants in the Texas municipal market raised concerns over bills that would constrain debt issuance.

Federal Reserve Governor Christopher Waller said he favored more monetary policy tightening to reduce persistently high inflation, although he said he was prepared to adjust his stance if needed if credit tightens more than expected.

Texas, Virginia, Idaho, Mississippi, Montana, Nebraska, New Hampshire, South Dakota and Utah, have all signed briefs urging the Court to take on the case.

"I think there is a certain amount of anxiety for New York — and many other states — as federal pandemic funds run out and questions about the potential for a recession emerge," said Evercore's Howard Cure.

Federal Reserve policymakers scaled back their expectations for rate hikes this year after a series of bank collapses roiled markets last month, and stressed they would remain vigilant for the potential of a credit crunch to further slow the economy, a record of the meeting showed.

It's the firm's third office in Alabama and part of an investment capitalizing on growth of some high-tech industries in the state, the firm's chair Christopher Maddux said.

The federal funds may not go as far amid inflation, but they still cushion the construction industry struggling with economic challenges.

The growth in March tax collections reported by the states was less robust than a year earlier.

Comptroller Brad Lander said the pension funds adopted a measurable and transparent plan that could serve as a model for other investors.