A deal on the state and local tax deduction cap remained elusive as of Monday morning.

Lawmakers have $755 million less to spend and only six more weeks to work on the two-year budget.

The committee may take the bill up again as soon as Monday.

As the Trump administration puts its stamp on dispensing infrastructure funding, proponents of P3's, PABs, federal and formula funding are squaring off against grants to state and local governments.

The rating agency, which gave the state a positive outlook a year ago, upgraded its general obligation rating a notch to AA-plus ahead of a $25 million bond sale.

At a Bond Buyer conference in Atlanta, industry leaders talked about tariff turmoil, the tax-exemption, weather resiliency, infrastructure and more. 

California Gov. Gavin Newsom said lowered revenues from the so-called "Trump slump" forced tough choices during annual May revisions to his budget.

Rep. Scott Fitzgerald said PROMESA indicated PREPA needed to regain access to capital markets and suggested a deal with bondholders would aid this.

Federal Reserve Gov. Michael Barr said tariffs could have an outsize impact on small businesses and hardships could outlive the trade policy debate.

The agreement includes $12.6 billion in spending for the fiscal year that begins July 1 and an income tax cut estimated to cost $160 million.