The shortage of Federal Highway Administration emergency relief funds has brought up a significant debate surrounding the eventual replacement of the Francis Scott Key Bridge in Baltimore. The current funding shortfall of over $3.5 billion has left many eligible projects in limbo, with a backlog of projects in 38 states and territories stemming from more
Politics
Recently, Mayor Mike Johnston of Denver proposed a plan for a sales tax hike to fund affordable housing in the city. This proposal is aimed at increasing the sales tax by 0.5% in order to generate approximately $100 million annually. This initiative comes shortly after the city council’s approval to place a 0.34% sales tax
The Massachusetts Bay Transit Authority recently priced more than $1 billion of senior sales tax bonds amidst the challenges of decreased ridership and revenue losses due to the impact of the COVID-19 pandemic on commuter habits. This article delves into the various obstacles faced by the MBTA and how it is navigating through these turbulent
The Illinois state comptroller, Susana Mendoza, reported a significant 55% year-over-year increase in the end-of-year general revenue fund cash balance. This was a result of her office paying the state’s bills in a timely manner, marking a departure from recent years of financial turmoil in the state. The general revenue fund ended the fiscal year
Recently, the California High-Speed Rail Authority approved the final environmental clearance for the challenging segment of the high-speed rail project. This segment, spanning 38 miles between Palmdale and Burbank, includes extensive tunneling through mountains – a complex and costly task. The estimated cost of this segment has risen by 27% since 2018, now totaling $28.6
The West Contra Costa Unified School District, based in Richmond, California, is facing a financial crisis as it failed to approve an accountability plan necessary to pass a budget by the end of the fiscal year. This failure has put the district at risk of having the County Education Office take over budget activities. The
The $82.5 billion fiscal 2025 budget of Michigan is set to include investments in roads and bridges that will be financed by the $700 million final tranche of Rebuilding Michigan Plan bonds. This investment is crucial for the state’s infrastructure, especially in repairing key bridges in various locations like Erie Township and making necessary road
California is currently facing tax revenue shortfalls that are putting pressure on the state’s policy agenda under the leadership of Governor Gavin Newsom. In a recent State of the State speech, Newsom focused more on national politics rather than addressing the challenges within the state. The agreement reached on the budget and the $297.7 billion
The House Committee on Transportation and Infrastructure, chaired by Rep. Sam Graves, has raised concerns about the sluggish pace at which the Department of Transportation is distributing funds allocated under the Infrastructure Investment and Jobs Act (IIJA). Despite receiving over $364 billion since the enactment of IIJA, the DOT has only obligated a little over
The Securities Industry and Financial Markets Association (SIFMA) has filed a summary judgment bid in a lawsuit against the State of Missouri over its environmental, social, and governance (ESG) investment regulation. SIFMA argues that the state’s anti-ESG securities rules infringe on federal laws, specifically the National Securities Markets Improvement Act and the Employment Retirement Income