Politics

Washington's latest official state revenue forecast lopped almost $900 million from projected collections over the next four years.

Get expert analysis of the May FOMC meeting, inflation outlook, and Powell's comments. Join Wilmington Trust's chief economist Luke Tilley on May 8 at 1 p.m. for key takeaways and forecasts.

The EPA's "termination of these grants appears to contravene a duly enacted statute," said U.S. District Judge Tanya Chutkan.

Mayor Karen Bass and her budget chief say the city faces a $1 billion budget gap and will need to rethink the way Los Angeles operates.

Mesirow's George Barbar said the group's top legislative focus is preserving the municipal bond tax exemption.

As lobbying efforts happen behind the scenes in the House, the ongoing battle over the Washington, D.C., budget is attracting attention from the market and the credit rating agencies who are hedging their bets on a successful outcome.

The U.S. Department of Transportation is pressing public transit agencies to beef up their commuter safety protocols or lose federal funding while the recently passed continuing resolution raises appropriation levels for the sector by less than a half percent.

"If you're an issuer, this is fly-in season," said Jarrod Loadholt, partner at Ice Miller LLP. "Don't hope someone else is going to solve this for you — they're not."

A $1.1 billion dollar cut to the Washington, D.C., budget by way of Congressional action is on hold thanks to intensive lobbying and an intervention by the Senate as the city vows to meet its financial obligations.

The state is trying to navigate its way to a fiscal 2026 budget amid potential federal policy changes and the heightened risk of a recession.