California’s high-speed rail initiative is not just a highly anticipated infrastructure project; it has transformed into a symbol of fiscal irresponsibility. According to Helen Kerstein from the state Legislative Analyst Office, a staggering $7 billion shortfall looms over the ongoing Central Valley segment. This figure is not just a rounding error but a significant financial
Politics
The recent American Society of Civil Engineers (ASCE) report, which awarded U.S. infrastructure an alarming C grade, paints a grim picture for citizens and stakeholders alike. This assessment isn’t just an academic exercise; it’s a stark warning sign indicating systemic failure, a lack of proper investment, and a rotting foundation on which the world’s most
Recent developments in the legal disputes between the American Securities Association (ASA) and the Securities and Exchange Commission (SEC) have exposed not only the intricate nature of financial regulation but also significant flaws entrenched within the municipal securities landscape. The ASA has called for the dismissal of a SEC order, contesting the constitutionality of the
The recent announcement from North Carolina State Treasurer Brad Briner regarding Jeff Poley’s appointment as the interim director of the State and Local Government Finance Division raises essential questions about the leadership dynamics shaping our state’s financial future. With Briner actively searching for a permanent candidate, the urgency for robust leadership in local finance has
For the first time, America’s infrastructure has garnered a hopeful GPA of C, which might seem like a minor achievement in the broader scope of education, but it reflects a significant turnaround in a country that has long placed its infrastructure on the back burner. Darren Olson, the chair of the American Society of Civil
The recent decision by S&P Global Ratings to alter Kansas’ rating outlook from positive to stable unveils a worrying narrative that signals impending challenges for the state’s financial landscape. While this isn’t the first time economic circumstances have tested Kansas, this revision is unprecedented, being notably influenced by unpredictable federal policies stemming from the Trump
As a pivotal moment for municipal bond advocates unfolds in Washington, D.C., the opportunity for urban and state officials to engage with lawmakers is crucial. Local leaders must not underestimate the potential impact of private activity bonds (PABs). The congressional corridors are alive with discussions as the House Ways and Means and Senate Finance Committees
As the initial excitement from the Biden administration’s infrastructure funding begins to dissipate, transit authorities are facing alarming bureaucratic realities that are not only complicating operations but also threatening essential services. The letters from U.S. Department of Transportation Secretary Sean Duffy signify the start of an unsettling era where public safety and fiscal responsibility are
Utah’s recent legislative session has unfolded a tapestry of fiscal developments, with Governor Spencer Cox at the helm, navigating through an ambitious $30.8 billion budget for fiscal year 2026 and a slew of bills designed to boost infrastructure and ignite economic growth. As someone who tends to lean towards center-right liberalism, I find myself cautiously
The Chicago Transit Authority (CTA) finds itself in a precarious position, grappling with severe financial instability that threatens not just its operational viability but also the very structure of mass transit in the city. Recent observations from Moody’s Ratings paint a grim picture: the CTA has a projected operating deficit of a staggering $550 million