Amtrak’s ambitious $6 billion project to replace the aging Baltimore-Potomac Tunnel is currently under scrutiny due to poor planning and management issues. According to a recent audit by Amtrak’s Office of Inspector General (OIG), the project’s structural inefficiencies pose a significant risk of delays and cost overruns. Although efforts are being made to rectify these
Politics
The recent resolution of a brief strike involving longshoremen at East and Gulf Coast ports has generated significant discussion concerning its implications for the maritime industry and the broader economy. Although the immediate disruptions caused by the strike have been alleviated, concerns loom regarding the potential financial ramifications stemming from the considerable salary increases negotiated
The House Committee on Transportation and Infrastructure (T&I) has cultivated a reputation for its ability to maintain a low-profile approach, avoiding unnecessary drama while navigating the intricacies of federal infrastructure matters. Yet, as the landscape of U.S. politics evolves following an election, the committee finds itself on the precipice of potential upheaval, particularly in terms
The Municipal Securities Rulemaking Board (MSRB) is set to implement a budget of $48.8 million for the fiscal year 2025, reflecting a modest increase of 2.9% compared to the previous fiscal year. This adjustment marks the board’s first budgeting move since the Securities and Exchange Commission (SEC) put a hold on the FY2024 rate card.
Proposition 98, passed by California voters in 1988, establishes a constitutional guarantee for funding public education. It mandates that a minimum percentage of the state budget be allocated to K-14 education, aiming to ensure financial stability for schools and community colleges. The provision remains a crucial element in California’s budget discussions, and its integrity has
In the dynamic world of finance and economic policy-making, traditional metrics such as inflation and unemployment have long been the primary lenses through which the Federal Reserve evaluates the nation’s economic health. However, an increasingly relevant discussion point has emerged in recent dialogues — that of personal savings. Fed Chair Jerome Powell recently highlighted this
The political landscape is constantly shifting, and one significant transition is currently unfolding within the House Municipal Finance Caucus. With the impending retirement of Maryland Democratic Rep. Dutch Ruppersberger, Rep. Terri Sewell of Alabama is poised to assume the co-chair position of this important bipartisan group. This transition occurs at a crucial juncture, as Congress
On a pivotal Wednesday, both chambers of Congress achieved a significant milestone by passing a continuing resolution (CR) that ensures government operations continue unabated. This legislative move is vital for the uninterrupted flow of federal funding to state and local governments, thus playing a crucial role in supporting various community programs and services. The House
In recent years, most U.S. states embraced a trend of tax reductions in an effort to stimulate economic recovery after the hardships prompted by the pandemic. However, as economies stabilize, the enthusiasm for tax cuts is yielding to concerns about budget deficits and fiscal sustainability. This emerging reality has sparked discussions among policymakers regarding necessary
Recently, Moody’s Ratings has made significant changes to New Mexico’s credit ratings that deserve scrutiny and analysis. The agency revised the outlook on the state’s Aa2 rating to “positive” from “stable,” an important move that impacts roughly $521 million of outstanding general obligation bonds. This shift in outlook isn’t merely a result of a numerical