Politics

Bond attorneys are eyeballing the possibility of attaching a tax title to the surface transportation reauthorization that could include issues of great interest to the municipal bond community as the appropriations process remains stuck in first gear.

The White House said it will appeal a circuit court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the central bank board while her lawsuit challenging her dismissal is litigated.

Utilities, and the local governments and states that house data centers, are wrestling with policy questions about who should cover the costs of the projected spikes in water and electricity demand.

Infrastructure like vertiports may be financed with municipal bonds.

Lawmakers passed California Gov. Gavin Newsom's expansive energy package, including a bill to extend the state's cap-and-invest program.

The medal recognizes distinguished service in public finance overall.

California's governor and legislative leaders agreed to extend the state's cap-and-trade program and dedicate one-fourth of the funding to high-speed rail.

The rating agency's review was triggered by the city's move to effectively end plans for a seawater desalination project that has $235 million of bonds outstanding.

With an insolvent Highway Trust Fund, toll revenue and PABs are increasingly important for transportation financing, lobbyists said.

The White House has appealed a D.C. District Court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the Fed board pending the outcome of her challenge to President Trump's moves to fire her.

State government own-source revenue declined 2.3% in fiscal 2025 from the totals in fiscal 2024.

The Senate Banking Committee voted 13-11 to favorably recommend Stephen Miran's nomination for the Federal Reserve Board to the full Senate.

A mix of broader market dynamics and Chicago-specific pressures is driving the widening spreads, investors said.

Michigan lawmakers must pass a 2026 budget before Oct. 1, but the Republican-controlled state House and Democratic-controlled Senate are far apart.

Analysts credited governance improvements Connecticut put in place in 2018, which have reduced the state's liabilities and improved its reserves. 

California lawmakers, who announced a deal with Gov. Gavin Newsom in June, say his administration failed to agree on loan terms ahead this week's deadline.

Maryland's comptroller reports the state is projecting a $189 million drop in general fund revenue due to the unfolding effects of the One Big Beautiful Bill Act, which could result in the state decoupling from federal tax laws.

Gov. Michelle Lujan Grisham ordered lawmakers back into session to mitigate the impact on hospitals, Medicaid, and other programs from federal policy changes.

Several major cities are staring down budget deficits and credit downgrades as the effects of inflation and OBBBA trickles down while relationships with their states adds complexity.

The hire comes as more BAM clients are considering public-private partnership financing structures.