In a remarkable twist of events, Washington state’s new governor, Bob Ferguson, has sent a clear message to the legislature regarding its budget proposals. After the House and Senate passed their versions of the operating budget, the celebrations felt premature. Ferguson’s firm stance indicates a dramatic need for change—a necessary recalibration to address a budget
Politics
The current climate surrounding fiscal policies and municipal financing in the United States is fraught with tension, particularly as lawmakers scrutinize every avenue for revenue generation. Recently, Nebraska Representative Don Bacon took a significant step by initiating a Dear Colleague letter urging his fellow lawmakers to voice support for preserving tax-exempt municipal bonds. For those
As discussions around tax reforms gain momentum in Washington, the proposal to eliminate the tax exemption for municipal bonds emerges as a potentially disastrous move for American utilities and the everyday citizens they serve. Estimates indicate that public utilities in the U.S. will need no less than $1.2 trillion over the next two decades to
California’s high-speed rail project was once touted as a groundbreaking leap into the future of transportation—an ambitious endeavor designed to connect its major cities in a swift, eco-friendly manner. However, two decades later, the excitement has fizzled out, morphing into a chaotic narrative marked by cost overruns and crippling budget shortfalls. The alarming news of
The state of U.S. infrastructure has deteriorated to alarming levels, achieving only a C grade from the American Society of Civil Engineers (ASCE). This low grade isn’t merely a reflection of physical assets but also speaks volumes about the inefficiencies and obsolescence embedded in our infrastructure frameworks. While the crisis is clear, the solution remains
The clash between the American Securities Association (ASA) and the Securities and Exchange Commission (SEC) is not just a legal skirmish; it’s a pivotal moment that could redefine the governance of the Municipal Securities Rulemaking Board (MSRB). The ASA has taken a bold stand, arguing that the MSRB’s structure is unconstitutional. This contention has the
The appointment of Jeff Poley as the interim director of the State and Local Government Finance Division in North Carolina signals a significant shift in the state’s approach to local finance and governance. State Treasurer Brad Briner’s choice reflects not just an attempt to fill a gap after Deputy Treasurer Debbie Tomasko’s recent departure, but
In a rare moment of optimism for America, the American Society of Civil Engineers (ASCE) has recently announced that the nation’s infrastructure has reached an unprecedented cumulative GPA of C. This marks a significant achievement, considering that infrastructure ratings have long lingered in the D range, a reflection of neglect and mismanagement. The chair of
The recent revision of Kansas’ credit outlook from positive to stable by S&P Global Ratings sends ripples of concern throughout the state’s economic landscape. This significant change is a reflection not only of local policy decisions but is also heavily influenced by the prevailing uncertainty surrounding federal policies, particularly under the unstable climate of Trump-era
At a time when the nation’s infrastructure is crumbling, community development faces unprecedented challenges, and economic recovery is still fragile, a robust and unfettered municipal bond market is essential. Municipal bonds, particularly private activity bonds (PABs), have been the lifeline for countless projects across the country—from airports to hospitals and schools. These instruments not only