Public finance

President Trump’s proposed Fiscal Year 2018 budget would cause a major setback to plans for a long-stalled Gateway rail project connecting New Jersey and Manhattan, lawmakers and transportation advocates warned.

Bonds supported by higher gas tax could spark $500 billion increase in federal transportation funding.

The 12-month investment gains of Rhode Island's pension fund topped $1 billion, state General Treasurer Seth Magaziner announced.

CALIFORNIA

ALABAMA

Heightened concern about a potential Westinghouse bankruptcy filing resulted in negative outlooks on municipal bonds issued for new nuclear units the company is building in Georgia and South Carolina.

Congressional trio seeks revenue for infrastructure funding from tax reform as Moody’s warns of slow spending increase.

Moody’s Investors Service retained a negative outlook on Catholic Health Initiatives $5.7 billion of rated debt after lowering the healthcare giant to Baa1 from A3. The downgrade comes less than a month after a similar move by S&P Global Ratings.

JP Morgan’s 7th annual public finance transportation and utility conference in New York featured presentations from Dallas/Fort Worth International Airport and the Metropolitan Washington Airports Authority, which are taking differing approaches to financing their needs.

CALIFORNIA

COLORADO

A pension reform group took issue with a University of California report that argues that fully funding pensions may be a "misguided" goal.

Arkansas House defeats plan to raise taxes by $200 million per year to support road bonds.

Foreign investors increased holdings of municipal bonds by 16% last year, according to report released by Van Eck on Tuesday.

COLORADO

IOWA

A potential budget wall between TxDOT and a proposed bullet train could halt the $12 billion project.

COLORADO

CALIFORNIA

The National Collegiate Athletic Association’s 8-year extension of its lucrative broadcast agreement with two major broadcasting networks wasn’t enough to stave off a downgrade.