Politics

A budget forecast prepared by the Virginia House Appropriations Committee shows tightening financial constraints in 2026 —including a higher cap on state and local tax deductions — could result in the state's issuing bonds.

The toll road agency's financial and other practices were targeted in a November legislative study, which could lead to another round of reform legislation.

The deal combined the benefits of a green designation with a massive, highly visible airport project.

Bond issuers in the water sector are concerned about a reduction in WIFIA loan closings as some point to competition from municipal bonds as a cause for a decline in their popularity.

22 municipalities are suing the state over vehicle-license fees they say California has failed to pay them.

Nearly a trillion dollars worth of state and local government assets are now being held in Local Government Investment Pools.

The bill was co-sponsored by Rep. John Garamendi, D-Calif.

Cities and states are showing budget resilience as pressure from inflation, slowing revenue growth, and the end of federal pandemic fuels concerns about an uncertain future.

States face slowing revenue growth and increasing spending pressures, the National Association of State Budget Officers said in its Fiscal Survey of States.

Meridiam, ACS Infrastructure Development, Sacyr Infrastructure USA LLC and Plenary Americas are among the firms that have signaled interest in the project.

The $6.3 billion all-funds budget was amended in the wake of the Nov. 4 defeat of a property tax rate increase that would have raised $109.5 million in revenue.

Disruptions to air travel during the federal government shutdown has sharpened the focus on legislation that would divert funds from the Airport & Airway Trust Fund to pay salaries of air traffic controllers.

The situation is worsening, driven by rising costs and AI revenue risks, the forecast warns.

The project was the Georgia's first revenue-risk P3 and lays the groundwork for future express lane P3s.

Connecticut transferred about $1.5 billion in excess budget reserves to its state employees' and teachers' pensions, said State Treasurer Erick Russell.

The rating agency lowered the outlook to stable on its A-plus rating, saying Pennsylvania didn't do itself many favors in its fiscal 2026 budget season. 

Chicago Mayor Brandon Johnson is seeking City Council approval of $1.8 billion in new money general obligation bonds and $2 billion in refunding authority.

New cost estimates for the repair of tolled Key Bridge in Baltimore, which is already under scrutiny by the Trump administration, indicate the price could be as much as $5.2 billion, more than double the original number.

The massive I-285 East express lanes project in metro Atlanta will be procured in two phases.

Transit advocates are pushing back on the Trump administration exploring the elimination of the Mass Transit Account of the Highway Trust Fund.