Washington

The first opportunity for repeal of the SALT cap prior to its December 2025 sunset date would be in early 2021 if Democrats can gain majority control of both chambers of Congress as well as the White House in the November 2020 election.

The legal teams for Baltimore and Philadelphia asked the court to reject the banks’ plausibility argument as well as their claim that the suit is barred by a four-year statute of limitations.

There are ways to promote the Federal Reserve’s independence, but it would require changes to the current system, which is based on a “fuzzy mandate,” according to members of the Shadow Open Market Committee.

Ernesto Lanza will be leaving his position at Clark Hill to go to the SEC's Office of Municipal Securities, sources said.

Not all of the threats and challenges to the Federal Reserve’s independence and credibility are external, according to former Federal Reserve Bank of Philadelphia President Charles Plosser.

The economy is doing well and the Federal Reserve should hold rates for now, Federal Reserve Bank of Philadelphia President Patrick Harker said Friday.

The exposure draft, Replacement of Interbank Offered Rates, proposes removal of all inter-bank offered rates as an appropriate benchmark interest rate effective for reporting periods beginning after Dec. 15, 2020.

Only Florida and Louisiana remain among the sales tax states that have not enacted laws to require remote collection to reap the benefit of the June 2018 Supreme Court ruling in Wayfair v. South Dakota.

At the SEC's invitation, Bond Dealers of America submitted a proposed framework for an exemptive order aimed at muni advisors on private placement deals.

Interest rates should be less than 1.5%, not the current 1.75% to 2%, according to Federal Reserve Bank of Minneapolis President Neel Kashkari.