Public finance

A favorable response would enable pre-construction work for the long-awaited $11.6 billion upgrade of New Jersey-New York train tunnels.

While the pressure was on municipal yields, which rose two to four basis points, the Investment Company Institute reported another week of inflows, with $928 million coming into municipal bond mutual funds and another $285 million into ETFs.

The board also submitted an amended plan of adjustment and disclosure statement for the central government bond deal.

President Biden met Wednesday with top Republican and Democratic congressional leaders to discuss a bipartisan way forward on this issue.

Not only do government entities have new federal funds destined to reach them soon, but citizens also are supporting bond elections in record numbers.

First quarter FDIC data show a $10.75 billion-plus jump in U.S. banks’ net purchases of municipal securities, the eighth biggest quarter since 2003, MMA says.

The board is also considering a measure the House passed to undo board-supported labor reforms.

IndyGo's expansion is being financed by a local income tax.

Mayor Mike Duggan and Michigan's governor, Gretchen Whitmer, have raised alarms over the impact of changes proposed by the Detroit Charter Review Commission.

The White House and a bipartisan cadre of lawmakers appear committed to getting infrastructure, including top muni market lobbying goals, achieved.

Andrew Rein of the Citizens Budget Commission and Howard Cure of Evercore Wealth Management dive into the New York City's operating and capital budgets. Paul Burton hosts. (38 minutes)

The underwriter is no longer engaged with the state's plan to build prisons to be owned by private operator CoreCivic Inc.

Tighter spreads and richer ratios are likely to continue, particularly as looming tax increases amplify the value of the tax-exemption, but analysts are hesitant to predict how much lower rates can go before investors balk.

In Montana, two school districts and the state government reported that a new state law signed by the governor on May 6 will end the state tax deduction for certain school bonds after 2023 if those bonds are federally taxable.

Arizona and neighboring states are preparing for the first mandatory cuts in water from the Colorado River after 20 years of drought.

A disappointing jobs report gives credence to the Federal Reserve’s concern about slack in the labor market.

Federal coronavirus relief helps the city deal with immediate budget problems, but pensions loom large over the city's post-pandemic fiscal landscape.

The state has allocated $1.3 billion over three years to repair and replace 163 buildings, General Treasurer Seth Magaziner reported.

“Our net present value savings were $191.5 million or a record-setting 29%," said North Texas Tollway Authority Chief Financial Officer Horatio Porter.

Refinitiv Lipper reported $584 million of inflows, $341 million of which went to high-yield, as investors pull back on reinvesting to pay tax bills with the May 17 tax filing deadline looming.