The landscape of the municipal bond market is poised for a seismic shift as the House Ways and Means Committee contemplates the outright elimination of tax-exempt bonds. Recent insights from a 51-page document, outlining a wishlist for a potential reconciliation bill, point to a precarious future for tax-exempt status, stirring anxiety among stakeholders in the
Politics
The recent unveiling of New York City Mayor Eric Adams’ proposed budget outlines a $114.5 billion fiscal plan aimed at elevating social services. This budget reflects a significant increase of over $2.5 billion from the previous fiscal year. As discussions ensue about the financial implications of this proposal, the intricacies pertaining to various aspects of
The debate surrounding the Tax Cuts and Jobs Act (TCJA) marks a pivotal moment in the 119th Congress, highlighting a significant intersection between fiscal responsibility and economic growth. The House Ways and Means Committee has commenced deliberations that delve deep into the implications of extending the TCJA, a legislation shaped heavily during the Trump administration.
The town of Gilbert, Arizona, finds itself at the center of a contentious legal battle after the Goldwater Institute filed a lawsuit accusing the town council of violating the Arizona Constitution. The lawsuit was lodged in Maricopa County Superior Court after Gilbert’s council approved tax increases aimed at funding critical infrastructure projects. This increase, effective
The ongoing debates in Washington regarding the state and local tax (SALT) deduction reflect a significant challenge for lawmakers, particularly those from high-tax states. The recent initiative by New York Republican Representative Mike Lawler to raise the SALT deduction cap from $10,000 to an ambitious $100,000 for individuals and $200,000 for married couples filing jointly
In the wake of unprecedented transformations within the U.S. transportation landscape, the Department of Transportation (DOT) is embarking on a mission to redefine infrastructure through a significant allocation of federal grants. As the Biden-Harris Administration approaches its conclusion, it has made clear its commitment to advancing national infrastructure projects, even as leadership is set to
The recent allocation of over $332 million by the U.S. Department of Transportation for airport modernization projects marks a significant shift towards upgrading America’s air travel infrastructure. Through the Federal Aviation Administration (FAA) and funded by the Bipartisan Infrastructure Law (BIL), this initiative aims to rejuvenate 171 airports across 32 states, reflecting a commitment to
The intersection of natural disaster and fiscal oversight has thrust California’s budgetary considerations into sharp focus, particularly during the current wildfire crisis affecting Los Angeles. As Governor Gavin Newsom’s administration grapples with both the human and economic toll wrought by these fires, a soon-to-be-finalized state budget looms large on the horizon. The recent announcement from
Maryland, known for its AAA credit rating, finds itself caught in the grip of a $3 billion budget shortfall. This fiscal crisis has drawn attention to underlying economic factors such as sluggish growth, inflation in Medicaid costs, and the expiration of pandemic assistance. The current administration, led by Democratic Governor Wes Moore, is adamant about
The ongoing landscape of American banking is witnessing a significant shift, particularly in the context of Texas’s regulatory framework and its Attorney General’s bold stance against environmental initiatives. In recent statements, Texas Attorney General Ken Paxton has lauded moves by prominent financial institutions such as Bank of America, JPMorgan Chase, and Morgan Stanley to withdraw