As the United States grapples with a tumultuous economic landscape punctuated by soaring deficits and ambitious tax reform proposals, municipal bonds find themselves in a precarious position. With promises of tax cuts that could potentially jeopardize the hard-won tax-exempt status of these bonds, municipal leaders are increasingly on edge. The stakes are high, as the
Politics
The Tampa Bay Rays are inching closer to securing their future with a new stadium, thanks to a recent decision made by the St. Petersburg City Council. On Thursday, the council voted 4 to 3 in favor of issuing $333.5 million in bonds to fund crucial aspects of the stadium project and the redevelopment of
In a recent interview at the New York Times’ Dealbook Summit, Federal Reserve Chair Jerome Powell addressed concerns regarding the potential emergence of a so-called “shadow chair” within the Trump administration’s economic framework. This notion, proposed by Scott Bessent—Trump’s Treasury Secretary nominee—raises questions about the influence of prospective leadership decisions on the Federal Reserve’s operations
The Financial Data Transparency Act (FDTA), enacted in December 2022, has stirred significant debate within the municipal bond community. While it aims to enhance transparency and streamline data reporting for municipal securities, critics argue that the law poses an unwarranted regulatory burden that could disproportionately affect smaller issuers. Congressman Patrick McHenry (R-N.C.), a key proponent
The recent accolade awarded to Brightline by The Bond Buyer, which recognized its $3.2 billion recapitalization as the 23rd annual Deal of the Year, underscores a transformative moment in the sphere of infrastructure financing in the United States. This monumental deal, representing the largest issuance of private-activity bonds and the first investment-grade debt specifically for
The landscape of U.S. monetary policy is on the verge of further transformation as Federal Reserve officials grapple with the decision of potential interest rate cuts. Recent comments by Fed Governor Christopher Waller have illuminated a path where further easing of the federal funds rate might be possible. Waller’s perspective suggests that a reduction of
As Congress reconvenes for its final stretch of the 118th session, legislators will confront a whirlwind of pressing issues that demand immediate attention. With a government funding bill and national defense reauthorization on the agenda, the time sensitivity of these discussions cannot be understated. Set to conclude on December 20, this lame-duck session is a
In a striking move, Moody’s has downgraded the city of Manhattan, Kansas, from an Aa3 to an A1 rating amid challenges surrounding financial reporting and overall fiscal health. This decision, confirmed on a Friday announcement, underscores the increasing scrutiny on municipal finances, particularly as the pressing issues of transparency and governance come into sharp focus.
In a historic move, the Washington, D.C. City Council has allocated substantial funding aimed at rejuvenating the city’s sports venues and associated infrastructure. The approval includes a sizable $515 million investment for the renovation of Capital One Arena, the home ground for both the National Basketball Association’s Washington Wizards and the National Hockey League’s Washington
The American Public Transportation Association (APTA) is urgently advocating for Congress to allocate a minimum of $57.5 million in emergency appropriations to the Federal Transit Administration’s Public Transportation Emergency Relief program. This funding is aimed at helping transit agencies recover from the devastation caused by hurricanes Helene and Milton. As climate change leads to an