The financial outlook for Houston recently took a turn for the worse, as Fitch Ratings downgraded the city’s AA rating from stable to negative. This decision follows a similar move by S&P Global Ratings, which had also adjusted its outlook just two months prior. The implications of these changes are significant, raising questions about the
Politics
As the calendar inches closer to critical tax debates set to unfold in 2024, the Senate Finance Committee recently ignited discussions that will shape the fiscal landscape for years to come. The meeting, which took place on Thursday, revealed stark contrasts between Democratic strategies aimed at curbing tax avoidance for the wealthiest Americans and Republican
The Financial Data Transparency Act (FDTA), enacted in December 2022, is a significant legislative effort aimed at modernizing the landscape of municipal securities disclosures. Its main objective is to transition existing disclosure formats into a machine-readable structure, thereby streamlining access to vital financial data. However, since its inception, the act has faced substantial pushback from
The ongoing struggles within House Republicans over critical pieces of legislation underscore a growing rift that not only threatens the party’s unity but also jeopardizes the continuity of government operations ahead of an impending fiscal deadline. As the government approaches a possible shutdown on September 30, legislative decisions have taken on heightened significance, especially as
When financial giant Citi closed its public finance division, most of its bankers swiftly transitioned to new roles in the municipal market. However, one banker, Archana Chandrasekhar, took a different path. Instead of immediately jumping into a new position, she decided to take a step back and evaluate her next move. Reflecting on her 16
Chicago’s latest budget forecast paints a grim picture of the city’s financial future. The corporate fund deficit is projected to skyrocket to $982.4 million by 2025, a significant increase from $222.9 million at the end of 2024. This steep rise in deficit raises concerns about the city’s ability to maintain its financial stability in the
Former President Donald Trump recently suggested the creation of a U.S. sovereign wealth fund to finance infrastructure projects during a speech at the Economic Club of New York. However, Trump failed to provide specific details on how this proposed fund would operate or what its exact purpose would be. The lack of clarity in the
The latest annual bridge report from the American Road & Transportation Builders Association reveals a concerning statistic – one-third of bridges in the U.S. are in need of repair or replacement. This translates to nearly 221,800 bridges requiring major repairs, with 76,175 bridges in urgent need of replacement. The report, based on the U.S. Department
Since the passage of the Inflation Reduction Act (IRA) just over two years ago, states have only captured an average of 7% of the potential funding opportunities provided by the Biden administration’s climate legislation. This low utilization rate of tax credits, which are the primary source of federal support under the IRA, is attributed to
Rep. Steven Horsford of Nevada is anticipated to take the vacant seat on the Ways and Means committee after the passing of Rep. Bill Pascrell. As a former member of the Ways and Means Committee, Horsford brings valuable experience to the table, having served two terms from 2019 – 2023. His knowledge of public finance