Trends in the Regions

Midwest market participants and researchers say the loss of the municipal bond tax exemption could cost the region's many smaller issuers market access.

A new S&P upgrade and one last year from Moody's burnish the Colorado Statewide Bridge and Tunnel Enterprise ahead of a $212 million revenue bond deal.

Muni data is complicated, confusing and unstandardized, and analysts say there's a cost to that. 

Lawmakers have until late this month to decide on a mix of cuts and taxes acceptable to the governor to close a $16 billion shortfall over the next two budgets.

The law cuts the individual income tax rate to 3% by calendar year 2030, with triggers that may drive future annual decreases until it ultimately falls to zero.

As Chicago transit agencies and Illinois lawmakers near a deadline to fix a transit budget shortfall of about $770 million, some are calling for a services tax.

Legislation addressed expanding water supply, paying for flood damage, financing for capital projects, as well as a fiscal 2026 spending plan.

Higher borrowing costs without the tax exemption could force public water, sewer and power providers to raise rates, neglect infrastructure, or sell systems.

California plans to price $2.5 billion in new money and refunding general obligation bonds next week, with retail orders Tuesday and final pricing Wednesday.

Only Georgia has a higher state-level infrastructure grade from the ASCE than the the C the U.S. received this week. More in the Southeast are C-minus or lower.