Chicago finds itself at a critical juncture as Kroll Bond Rating Agency (KBRA) places its A-rated general obligation bonds on a “Watch Downgrade.” This comes just days before the City Council heads into a pivotal vote on a proposed $300 million property tax increase included in Mayor Brandon Johnson’s 2025 budget. The concerns from KBRA
Politics
The controversial initiative of congestion pricing remains at a critical crossroads in New York City, especially in light of recent electoral outcomes that may interfere with its future. At the forefront of discussions are notable figures such as New York City Comptroller Brad Lander, who has voiced concerns about the implications of Donald Trump’s presidency
The landscape of U.S. tax enforcement is noticeably shaped by the fluctuating budget allocated to the Internal Revenue Service (IRS). As new political agendas take shape, the battle over IRS funding escalates, which directly impacts the audit landscape for municipal issuers. The correlation is clear: an increase in the IRS’s budget typically results in a
The recent bond referendums in the Southeast United States have unfolded a revealing narrative about the priorities and concerns of local populations. Voters in cities like Nashville, Charlotte, and Fairfax County displayed an eager willingness to invest in infrastructure and community development, while residents in Cary, North Carolina, and Lancaster County, South Carolina, expressed substantial
The Oklahoma Turnpike Authority (OTA) has recently taken significant steps towards advancing the ACCESS Oklahoma expansion program, a project that has become both a financial behemoth and a focal point for public debate. With an estimated budget that has soared to an eye-watering $8.2 billion from the original projection of $5 billion, the expansion initiative
The recent political landscape has been shaken up significantly, with Former President Donald Trump seemingly poised for a comeback while Republicans make substantial gains in the Senate. The dynamics of control between the two major parties are not only crucial for the national political environment but also weigh heavily on financial markets, particularly the municipal
Over the past few years, substantial increases in property values have triggered an unprecedented surge in property taxes across various regions in the United States. This phenomenon is particularly acute in fast-growing states, especially those in the Mountain West, where demand for housing has skyrocketed, leading to an almost 27% increase in property values since
The upcoming federal election is set to pivotally influence key Congressional committees responsible for shaping critical fiscal policies and transportation initiatives. As voters head to the polls, the outcome of several closely contested Senate and House races will not only impact party control but also the future of tax legislation and next-generation transportation frameworks across
The municipal bond market, a crucial arena for public financing amounting to an impressive $4 trillion, is facing a pivotal moment. In light of persistent concerns over inadequate disclosures by governmental entities, a proposal for greater federal oversight has emerged, igniting a fervent debate. This notion, championed by seasoned professionals in public finance, is not
The recent onslaught of Hurricane Milton has brought the financial infrastructure of Florida into sharp focus, as the damage caused has a significantly greater impact on the state’s Hurricane Catastrophe Fund than Hurricane Helene did. The analysis of the fiscal consequences reveals a complex landscape of projected financial burdens, anticipated responses from state authorities, and