Politics

Bond yields are shooting up for the second time in as many months. Federal Reserve Gov. Christopher Waller attributes the volatility to concerns about rising national debt levels.

The Senate will likely revise the House bill, which left tax-exempt bonds untouched after months of speculation.

Gov. Ron DeSantis wants property tax cuts and House Speaker Daniel Perez wants a sales tax cut as future state deficits are projected.

California Gov. Gavin Newsom's proposal to speed plans for a second tunnel for the state's water conveyance system is facing stiff opposition from the Delta Caucus.

As the budget reconciliation lurches through Congress towards a vote, the cap on state and local taxes remains a key bargaining chip while data shows state tax revenue declining and an uncertain future for the pass-through-entity workarounds adopted by more than 30 states.

Congress needs to lift limitations on tax-exempt private activity bonds, say transportation advocates.

The Phoenix-based university will not have to pay a $37.7 million fine after the U.S. Department of Education dropped its case.

"We have got to keep the money coming in to transit," said Sen. Elizabeth Warren D- Mass.

Some bills seeking to restrain local government debt issuance are still alive as the Texas Legislature's 2025 session heads towards its home stretch.

The bondholders and board faced off over the creditors' belief they they are due the administrative expense claim.