The upcoming letter by Nebraska Representative Don Bacon serves a pivotal purpose in the tumultuous arena of public finance: it emphasizes the significance of tax-exempt municipal bonds amidst dire fiscal predictions. In the backdrop of potential cuts that threaten to disrupt local economies, Bacon’s call for preservation is not merely poetic—it is a desperate plea
Politics
Tax exemptions for municipal bonds have been a crucial pillar supporting public services across America, particularly in the domains of utilities and infrastructure. The suggestion proposed by congressional Republicans to eliminate this tax exemption poses not only a fiscal conundrum but threatens the very fabric of public welfare. By stripping municipal bonds of their tax-exempt
The high-speed rail project in California, once viewed as a groundbreaking investment in infrastructure and technology, now stands on the precipice of failure. With an unsettling budget shortfall of $7 billion looming over the already beleaguered Central Valley segment, the vision of high-speed rail is starting to feel more like a mirage—a lofty goal that
The American Society of Civil Engineers (ASCE) has issued a glaring warning about the state of U.S. infrastructure, assigning it an embarrassing ‘C’ grade. This evaluation is not merely a statistical inconvenience; it signifies systemic dysfunction and a lack of foresight in managing the backbone of one of the world’s most powerful economies. As we
The recent appointment of Jeff Poley as the interim director of the State and Local Government Finance Division has stirred a modest wave of anticipation in North Carolina’s political and financial spheres. Under the leadership of State Treasurer Brad Briner, this move signals an urgent need for stability amid shifting personnel, particularly following the departure
The recent developments surrounding the American Securities Association’s (ASA) legal battle with the Securities and Exchange Commission (SEC) are nothing short of illuminating. The case has been stayed until August as the Eleventh Circuit Court considers the implications of the Municipal Securities Rulemaking Board’s (MSRB) structure, which the ASA argues is unconstitutional. This situation highlights
America’s infrastructure has long been the backbone of its economy, yet the recent report by the American Society of Civil Engineers (ASCE) reveals that we are merely skating by with a C grade—an improvement from a C- but still indicative of systemic failures. This marks a critical moment in evaluating the impact of governmental spending
Recently, S&P Global Ratings made a notable revision to Kansas’ rating outlook, changing it from positive to stable. This pivotal decision marks the first instance where uncertainties stemming from federal policies under the Trump administration have directly influenced a state-level rating. Geoff Buswick, a managing director at S&P, indicated that state leaders are struggling to
As the political landscape shifts in Washington, D.C., city officials, state representatives, and various municipal bond issuers find themselves navigating a complex and increasingly precarious situation. The looming specter of tax reform poses an existential threat to tax exemptions on municipal bonds, particularly private activity bonds (PABs). With Congress actively deliberating on a significant tax
As we navigate through a world still reeling from the pandemic’s aftermath, the implications of government policies on public transit systems are becoming ever more pronounced. Following the Biden administration’s earlier allocations of funding aimed at revitalizing transit infrastructure, we’re now witnessing a sharp twist in the narrative. The expiration of this financial support is