Restricting the use of IIJA funds for new highway capacity "flies in the face" of Congressional intent, said Sen. Mitt Romney.

Illinois' burdensome pension tab and questions over whether revenue can keep pace with spending in the long term pose strains, but the governor's plan to use surpluses to pay bolster the rainy day fund and pension contributions and pay down bills moves the state in the right direction.

The White House's pick for vice chair for supervision, Sarah Bloom Raskin, took the brunt of criticism from Republicans on Thursday. But it seemed to do little to sow doubt among the Senate Banking Committee's moderate Democrats about Raskin or fellow nominees Lisa Cook and Philip Jefferson.

Gov. J.B. Pritzker highlighted rating recent upgrades as he presented an election-year budget that would also offer tax relief and reduce the bill backlog.

Republicans have knocked Sarah Bloom Raskin as too liberal on climate change and Lisa Cook as underqualified ahead of a Senate Banking Committee hearing Thursday. Meanwhile, a Democratic senator's illness threatens to stall nomination votes in the full chamber.

Democratic Sen. Joe Manchin praised all five of President Biden's nominees for the Federal Reserve, an important signal for their confirmations in the 50-50 Senate.

Illinois Gov. J.B. Pritzker will unveil a proposed, fiscal 2023 spending plan Wednesday that offers some modest, one-time targeted tax relief.

Public-private partnerships can play a big role in U.S. transportation over the next decade, DOT Secretary Pete Buttigieg told governors.

The business lobby has been uncharacteristically critical of some key White House picks like Sarah Bloom Raskin for Fed governor, a sign that banking policy is seen as having a more direct economic impact than in the past.

Michigan's Democratic governor joined the legislature's Republican majorities in proposing tax relief but they have different ideas about how to do it.

The think tank seeks papers with a focus on research related to the impact of COVID-19 on public finance, innovations in funding infrastructure and threats posed by climate change.

Wisconsin now expects a $3.8 billion surplus in its current two-year budget, setting the stage for a partisan fight over what to do with it.

In his new role, Kurt Summers will look for opportunities to partner with local governments to advance their infrastructure priorities.

Better communication will be key in future P3s, a top Maryland transportation official said.

Pat Toomey, the top Republican on the Senate Banking panel, questioned the backgrounds of President Biden’s Federal Reserve picks amid a brewing conflict over diversity at the central bank and its role in dealing with climate change.

Gov. Tim Walz is pitching a record $2.7 billion capital bonding package and has proposals for the legislature about how to use a record $7.7 billion surplus.

Maryland blames a "post-pandemic market" for cost increases lifting the light rail line's price tag to $9.28 billion. The system is to open four years late in 2026.

In the near term, federal aid is sitting on balance sheets ready to be deployed if some of the downside economic risks become reality, experts say.

A long-awaited report from the Federal Reserve is a historic step toward the possible development of a central bank digital currency. But the Fed emphasized it would not create one without a clear directive from Congress and the White House.

The budget proposal reflects the state’s improving financial position, due in part to aid from the federal government.