Politics

California's largest health workers union sent ballot language to state Attorney General Rob Bonta in an effort to add a wealth tax proposal to the November 2026 ballot.

California's recent tax revenues exceeded forecasts, but the state faces structural deficits that drive budgetary borrowing and have narrowed its reserves.

The upgrade is driven by realized and expected improvement in the state's financial metrics, the rating agency said.

The spending cuts and reforms to Medicaid and SNAP in the One Big Beautiful Bill will be phased in through 2028, but most states will start preparing early next year.

North Carolina's triple-A ratings were affirmed ahead of plans to sell up to $506 million in general obligation and limited obligation bonds.

"I've never seen this level of hand wringing at the issuer level," said Matt Boles, managing director at RBC Capital Markets.

Yakym praised the successful effort to preserve the tax exemption throughout One Big Beautiful Bill negotiations and encouraged market advocates to keep lobbying lawmakers.

This will be Charvel's second stint as the city's CFO.

Cities are responding to a state directive to remove symbols on crosswalks and other so-called distractions or risk losing state and federal funding.

The city council of Harvey voted to declare the city financially distressed in a bid for state oversight, as the mayor warned of a city government shutdown.

Its triple-A bonds have recovered after cheapening earlier this year under a pressure campaign from the Trump administration.

The case challenges Oklahoma's authority to collect income taxes from Native Americans who live and work on tribal reservations.

The Roosevelt Institute rolled out a new report on munis revealing the latest trends in public finance along with critiques and recommendations for alternative ways to fund infrastructure.

By delaying the bill signing, Oregon Gov. Tina Kotek shortens time opponents have to gather signatures for a measure to overturn the transportation bill.

Maryland's Capital Debt Affordability Committee is recommending the state stick to its guns by endorsing a plan to borrow up to $1.75 billion for capital projects in the coming fiscal year, despite the job shedding inflicted by the Trump administration's plans to shrink the federal government.

The bill was a response to a charter school fraud that took the state for $400 million, but Gov. Gavin Newsom said the proposed reforms were too expensive.

"The project is not dead," said the transportation planning board chair.

Federal Reserve Gov. Stephen Miran said Thursday that the central bank's forays into examining climate change and racial justice under the prior administration politicized the Fed. He also argued that Fed officials should limit their comments on economic policies such as tariffs.

The Southeast's states rely on federal funds more than those in other regions and analysts warn those funds may be ending shortly if the shutdown continues.

The city council took action to keep the property tax rate unchanged, a move that could punch a $53 million hole in the fiscal 2026 budget and drain reserves.