Politics

Budget legislation was introduced in both houses of the California legislature last week, setting up negotiations.

The Federal Open Market Committee enters a new phase when it meets this week as Kevin Warsh takes over as chair.

Pooling local projects and slicing up risk could open the door to more private capital, a researcher said.

The spending plan includes revenue-raising measures involving the bond-issuing combined utility system that have sparked concerns by the city's controller.

Immediately after signing a $70 billion reconciliation bill into law, President Trump began pushing for a third reconciliation package.

California State Controller Malia Cohen released her monthly cash report and announced formation of a new economic advisory council this week.

Illinois Gov. JB Pritzker proposed changes to address his state's underfunded pensions in his budget proposal. Two made it through the legislature.

On the state P3 front, PennDOT aims to complete a review of a proposed $5 billion toll lane project next year.

While the city projects a water emergency, capital costs in the state's latest water plan skyrocket and demand exceeds capacity in a state financing program.

"I would say we were pleasantly surprised that there aren't mandates that are laced in this proposal," GFOA's Emily Brock said.

The House Appropriations Committee approved the fiscal year 2027 Transportation, Housing and Urban Development and Related Agencies last week by a vote of 34 to 27.

In need of revenue, some state legislatures are turning to their wealthiest residents for additional monies.

The letter from officials in Democrat strongholds asked the rating agencies to maintain their focus on financial analytics in viewing energy-dependence, rather than being swayed by the political winds.

The rating agency gave the city a negative outlook in November 2024, following voter approval of a ballot measure requiring more public safety funding.

As budget reconciliation finally moves past the Senate, Aggie bond advocates are reintroducing the Modernizing Agricultural and Manufacturing Bonds Act.

A county tax collector said the ballot measure, if passed, would endanger outstanding local bonds throughout the state.

A federal appeals court panel stayed a lower court decision that found the 2021 state law to be unconstitutional.

Gov. Abigail Spanberger received a dose of good news for a constrained budget as a new revenue forecast shows a boost in tax collections.

S&P lifted Graham's general obligation bond and certificates of obligation rating to A from BBB due to the city's earlier-than-projected financial turnaround.

Illinois lawmakers passed a $56 billion fiscal year 2027 budget as the legislative session wrapped up in the early hours of Monday morning.