The U.S. Department of Transportation recently made a groundbreaking announcement regarding its Transportation Infrastructure Financing and Innovation Act loan for a transit-oriented development project. This loan represents a significant step towards supporting transportation development in the country through innovative financing structures like public-private partnerships and private activity bonds. With the 2021 Infrastructure Investment and Jobs
Politics
President Biden’s recent changes to the environmental permitting rules have sparked controversy among various groups, including construction companies and Republicans. The revisions to the National Environmental Policy Act (NEPA) are aimed at advancing the administration’s climate and environmental-justice agenda. While the White House insists that the new rules will streamline and expedite the process, critics
Transportation Secretary Pete Buttigieg outlined the Biden administration’s priorities for the new fiscal year, emphasizing the importance of shoring up infrastructure and supporting ambitious projects like high-speed rail. The administration’s $146 billion spending proposal includes significant investments in roads, bridges, aviation, and rail. Buttigieg highlighted the Brightline West high-speed project as a prime example of
Recently, Shreveport, Louisiana, voters made a significant decision by approving a total of $256 million in general obligation bonds. This financial support is set to be allocated towards various sectors of the city’s infrastructure, with $125 million designated for streets and drainage, $82 million for water and sewer projects, and $49 million for police and
Tribal governments in the United States have faced significant challenges when it comes to accessing tax-exempt bonds for financing projects. Unlike state and local governments, tribes are constrained by the essential government function test, which limits their ability to issue tax-exempt bonds for projects that are not traditionally considered essential government functions. This restriction has
As of now, a significant portion of the federal funding allocated for water and wastewater needs in the United States is still pending disbursement. With only about 6% of the $55 billion from the 2021 Infrastructure Investment and Jobs Act having been paid out so far, there seems to be a lack of urgency in
The municipal bond market experienced losses as U.S. Treasuries saw higher yields, impacting equities as GDP growth slowed in the first quarter. The rise in inflation, particularly the core PCE deflator reaching 3.7% annually, exceeded expectations. These conditions led to a surge in Treasury yields, making a near-term Federal Reserve interest rate cut less likely.
The California Supreme Court has recently decided to revisit a case that challenges retirement reforms that were approved by state lawmakers over a decade ago. This marks the return of pension spiking questions to the high court after a 2020 ruling on a similar case in Alameda County. The case in question, Ventura County Employees’
The research into the financial impact of anti-environmental, social, and governance (ESG) laws in Oklahoma has revealed startling results. According to a recent study by the Oklahoma Rural Association, a law that prohibited state and local government contracts with investment banks that “boycott” the fossil fuel industry led to a 59 basis points increase in
Wyoming has recently earned a positive outlook from S&P Global Ratings due to its healthy reserves and plans to increase permanent funds in order to mitigate revenue fluctuations. This positive outlook has resulted in the affirmation of the state’s AA issuer credit rating, with a one-in-three chance of being upgraded over the next two years.