Tax

The toll revenue bonds, subject to federal alternative minimum tax, will be issued through the Wisconsin-based Public Finance Authority.

The effects of the One Big Beautiful Bill have yet to make a dent in state and local budgets as market experts and academics look into the future with concern.

A 2024 Illinois law changing sales tax distributions has ramifications for the fiscal cliff facing Chicago-area public transit agencies.

The legislature, which returns to respond to recent floods, could also take up bills to curb local property taxes, including bills aimed at bond issuance.

The bonds, scheduled to price next month, will have JPMorgan as senior manager.

With big state incentives and tariff protection, a United Arab Emirates-based aluminum producer has pledged to build the first new U.S. smelter in decades.

Executive Director Gene Seroka said the port's downstream prospects are unclear as it deals with the "tariff whipsaw effect" from the Trump administration.

Most states have already enacted their budgets for the fiscal year as the effects of Medicaid restrictions and tax policy changes in the One Big Beautiful Bill are being analyzed and raising concern.

Markets are "tilting to a risk-off posture as participants brace for the chance of Trump tariff-sparked turbulence in the coming hours and days," said José Torres, senior economist at Interactive Brokers.

Housing advocates are celebrating the passage of the One Big Beautiful Bill for the boost in Low Income Housing Tax Credits which is projected to boost the use of private activity bonds.