Tax

Vikram Rai of Wells Fargo is dubious of some widely-held assumptions.

Lawsuits targeting validation lawsuits for pension obligation bonds in California generally stop issuers from considering issuance, but two cities have fought and, so far, won.

The proceeds will be used to finance replacement of the Calcasieu River Bridge.

Issuers and development advocates urged lawmakers to include advance refunding, the expansion of opportunity zones, and other muni prorities in any upcoming tax package.

Revenue from the sales tax could be used to issue long-term debt to reduce the extensive backlog of city projects.

Vance has called for eliminating the SALT deduction, calling it "massively redistributive toward the lower- and middle-income brackets."

"Lobbyists have to be prepared for any eventuality," said Chuck Samuels, attorney at Mintz Levin and counsel to the National Association of Health & Educational Facilities Finance Authorities.

Overall state general fund revenue is on track with an October estimate, while the projection for the fiscal 2024-2025 yearend balance faces changes.

Financial markets are trying to "absorb" the outcome of higher odds of Trump winning in November, said James Pruskowski, chief investment officer at 16Rock Asset Management.

The plan would raise about $100 million a year to create and preserve affordable housing.