Trends in the Regions

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.

The Illinois Finance Authority will go to market with $850 million of revenue and refunding bonds for the Illinois Environmental Protection Agency next week.

Houston, Phoenix, and Dallas are taking action to address fiscal challenges brought on by litigation, state actions and a ballot measure.

The New York City Municipal Water Finance Authority is tapping the market for the second time in two months, this time with a $600 million refunding.

Washington's latest official state revenue forecast lopped almost $900 million from projected collections over the next four years.

The series 2025B Black Belt Energy Gas District bonds are rated Baa1 by Moody's Ratings based on Deutsche Bank's key role in the transaction.

As major airlines report losses and scale back forecasts, Cleveland is preparing to go to market April 2 with $125.5 million of revenue bonds for its airport.

Bond-issuing infrastructure districts and development zones were a focus of legislation passed by Utah lawmakers during a session that ended March 7.

The Trump administration has dealt several blows to an already-battered sector. 

The nonprofit Wood River Community Housing Trust uses municipal bonds as part of its toolkit to finance workforce housing in the pricey Sun Valley, Idaho, area.

The Southeast has many of the largest ports and cargo airports in the country along with extensive foreign investment that creates exposure to trade turmoil.

Iowa is considering two bills to expand disaster assistance to local communities, including via a revolving loan fund that may be funded with bonds.

The Lone Star state, the nation's largest exporter of goods, could be hit economically by a tariff war, particularly with Mexico, its biggest trading partner.

Maryland lawmakers proposed a new tax on business-to-business transactions to close a $3 billion budget gap amid the firing of thousands of federal employees.

The $550 million deal from an issuer with two triple-A ratings includes about $250 million for refunding and an $85 million taxable piece.

With at least one important aquifer reaching peak allowable draw this year, Florida's water utilities are looking at a variety of infrastructure approaches.

Illinois will sell $725 million of junior sales tax revenue bonds in a competitive deal pricing Tuesday. The Build Illinois bonds will fund capital projects.