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21

Muni lobby stakes out positions in tax fight

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Knowing where to focus won't be easy among the numerous issues in play.

20

California Supreme Court removes anti-tax measure from the ballot

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The California Supreme Court issued an opinion Thursday blocking an anti-tax measure from November's ballot.

Pressure mounts for FEMA reform

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A petition aimed at the Federal Emergency Management Agency highlights the deficiencies and opportunities FEMA has in adapting to a world of frequent extreme weather events

18

Looming tax cliff puts municipal bond tax exemption back in play

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While the muni market lobbies for its wish list, investors keep in mind that any tax rate changes affect appetite and market technicals.

15

California hospitals may get more time to meet earthquake safety mandates

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Existing California law requires hospitals to be fully operational after a large earthquake by 2030. The Senate has passed a bill to extend the deadline.

Thursday, Jun 20

23

A 140-year-old New York college's rating is slashed to junk

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S&P Global Ratings dropped Houghton University to BB-plus from BBB-minus, citing a track record of deficits plus a large operating shortfall.

22

Muni mutual funds see inflows, led again by long-term, high-yield

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Municipal bond mutual funds saw small inflows as investors added $16.4 million to the funds after $154.4 million of inflows the week prior, according to LSEG Lipper.

21

Senate cuts red tape for licensing nuclear power

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The Advance Act is expected to shorten the timeline for project approvals

20

Utah lawmakers OK tweaks to law aimed at keeping coal plant alive

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Legislation passed by Utah lawmakers during a special session addresses concerns from the Intermountain Power Agency about a new law to keep a coal-fired power plant operating.

17

Puerto Rico board seeks hearing to revise utility's debt plan

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Puerto Rico's financial oversight board is seeking to reopen a confirmation hearing on a debt-restructuring plan for the island's power utility after an appeals court last week ruled that bondholders have a claim to the agency's future net…

15

Louisiana enacts anti-ESG measure targeting underwriters

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The state's new law requires companies like investment banks to provide written verification of their positions, part of a trend among similar bills aimed at preventing Wall Street banks from lying about their positions, said a firearms…

Tuesday, Jun 18

23

DOT needs help from Congress for TOD funding

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Undersubscribed funding opportunities are blocked by regulation.

Munis steady, upsized $2.5B JFK deal prices

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Issuance this year is "well on its way" to $450 billion, mostly from the tax-exempt supply of new money projects, said Matt Fabian, a partner at Municipal Market Analytics.

20

Battle over Austin light-rail bonds moves to appeals court

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The city and its Austin Transit partnership are seeking court validation for bonds to help finance the multi-billion-dollar project.

Brightline train's proposed Tampa extension wins regional support

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A coalition of metropolitan planning organizations and transportation officials along the Interstate-4 corridor approved a resolution supporting further development.

17

On AI adoption, Columbus takes a page from corporate America

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Columbus' technology modernization push has embedded artificial intelligence functionality into its payroll, revenue and accounting and operations systems.

MMA: Borrowers' lack of climate disclosures may foreshadow credit weakness

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Investors may want to consider non-disclosure of climate hazards as a symbol of non-resilient projects and limited planning.

15

Arizona lawmakers pass bill to ease the sting of Maricopa County tax refunds

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The legislature addressed the cost of a $329 million property tax refund in the state's largest county as well as passed a fiscal 2025 budget.

Monday, Jun 17

22

Munis somewhat weaker, UST yields rise

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Despite some slight weakness Monday, munis continued an "impressive start to June," with yields falling 10 to 13 basis points last week, Birch Creek strategists said.

21

Los Angeles social bonds score AAA rating ahead of competitive sale

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The City of Angels is the latest in recent days to score a ratings upgrade as Fitch reviews its local government ratings using amended criteria.

MSRB adds Tradeweb AAA Municipal Curve to EMMA

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According to the board, the addition is an important means to enhance market transparency and is in line with its FY24 priority to expand the EMMA platform.

20

Harker says data will determine timing, number of rate cuts

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The Philadelphia Fed president said there can be as few as no cuts or as many as two this year, but if his projections are accurate, one decrease would be appropriate this year.

18

Kashkari says Fed well-placed to take its time ahead of rate cut

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"We need to see more evidence to convince us that inflation is well on our way back down to 2%," Federal Reserve Bank of Minneapolis President Neel Kashkari said.

Laura Allen passes the GFOA baton

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Laura Allen, former president of the Government Finance Officers Association, hands the baton off to Tanya Garost at a time when the group is taking new steps to recruit and engage with its members.

14

Lackawanna County patches budget gap with scoop-and-toss deal

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The county hopes one-time revenues will help it "live to fight another day" as it awaits a state-assisted financial plan.

Friday, Jun 14

22

Munis firmer ahead of $7.2B new-issue calendar

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The new-issue calendar is led by the New York Transportation Development Corp. with $1.5 billion of green AMT special facilities revenue bonds for the John F. Kennedy International Airport New Terminal One project,

21

Fed's Mester sees inflation risks to upside despite better data

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"I think the risks to inflation are still on the upside," Federal Reserve Bank of Cleveland President Loretta Mester said. "I think the risk to the labor market is dual-sided."

San Diego County's pension bonds bumped to AAA as part of Fitch criteria review

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Ten other pension obligation bonds are under review by Fitch Ratings as a result of the agency's new local government criteria.

Lawmakers urge new path forward for transit agencies

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House Transportation and Infrastructure Committee lawmakers urged new bills and new ways for transit authorities to deal with the post-COVID dynamics.

20

Louis English joins Janney as head of municipal sales

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Louis English joined Janney Montgomery Scott as managing director and head of municipal sales in the fixed-income division, based out of the Chicago office.