In the intricate world of U.S. tax policy, few issues have proven as polarizing as the state and local tax (SALT) deduction cap. This contentious topic has resurfaced with renewed vigor, particularly following the introduction of a new bill by New York Republican Representative Mike Lawler aimed at significantly increasing the SALT deduction cap. Originally
Politics
As the U.S. Department of Transportation (DOT) prepares to navigate an evolving landscape, it is making significant strides toward modernizing the nation’s infrastructure. With billions allocated through federal grants, Secretary Pete Buttigieg announced a renewed commitment to enhancing the transportation system just as the Biden-Harris administration draws closer to its conclusion. This transitional phase is
The recent announcement by the U.S. Department of Transportation (DOT) signals a significant commitment to modernize airport facilities across the nation. More than $332 million in federal grants will be distributed to 171 airport projects in 32 states, funded through the Federal Aviation Administration (FAA) as part of the Bipartisan Infrastructure Law (BIL). Transportation Secretary
As California grapples with devastating wildfires impacting Los Angeles, Governor Gavin Newsom’s $322.2 billion budget proposal comes at a tumultuous time. Presented by state finance director Joe Stephenshaw, the budget arrives with a surprising slight surplus of $363 million, showing a stark contrast to the $45 billion deficit faced in the previous year. This reversal
In a state renowned for its fiscal responsibility and high credit ratings, Maryland now finds itself grappling with an alarming projected budget shortfall of $3 billion. This predicament arises due to a combination of slow economic growth, escalating Medicaid costs, and the cessation of various COVID-19 relief funds. As Governor Wes Moore prepares to navigate
The recent actions taken by Texas Attorney General Ken Paxton regarding major financial institutions—specifically Bank of America, Morgan Stanley, and JP Morgan—spotlight a complex intersection of finance, politics, and environmental policy. Paxton’s vocal opposition to the Net-Zero Banking Alliance (NZBA) and the implications it holds for Texas’s oil and gas industries bring to light an
California Governor Gavin Newsom recently unveiled a preliminary overview of the state’s financial strategy for the upcoming fiscal year, which is set to be formally released this week. During an extensive two-hour session, Newsom emphasized the budget’s balanced nature, claiming it boasts an anticipated surplus of $16.5 billion compared to the previous fiscal plan due
The Metropolitan Transportation Authority (MTA) of New York has embarked on a groundbreaking venture; beginning this past Sunday, the MTA activated its congestion pricing program for vehicles entering lower Manhattan. This ambitious and controversial initiative is the first of its kind in the United States, marking a pivotal moment in urban transportation management. Targeting a
As the clock approaches midnight Wednesday, the United States stands on the brink of a financial precipice defined by its borrowing cap. This event is emblematic of a persistent conflict within the halls of Congress that could have significant implications for municipal bond issuers and investors alike. With Treasury Secretary Janet Yellen recently informing Congressional
The recent withdrawal of Bank of America (BofA) and Morgan Stanley from the Net-Zero Banking Alliance raises questions about the intersection of corporate sustainability commitments and state-level political pressures. In October 2023, Texas Attorney General Ken Paxton initiated a review of several financial institutions, including these two banks, due to their involvement in the Alliance,