The recent ruling by Judge Stephen Bough in the U.S. District Court for the Western District of Missouri has sparked controversy by striking down Missouri’s investment rules that aimed to regulate “non-financial” investment advice from broker-dealers and investment advisors. The rules required broker-dealers and investment advisors to disclose and obtain written consent from customers when
Politics
Tennessee’s decision to introduce “Choice Lanes” as a means to alleviate congestion on state highways marks a significant shift in the state’s approach to transportation infrastructure. The use of municipal bonds for this purpose represents a departure from Tennessee’s historical reliance on pay-as-you-go funding for road projects. With the recent passage of the Transportation Modernization
Prince George’s County Public Schools is set to launch a $663.465 million bond deal aimed at fast-tracking the construction of eight new schools through a public-private partnership. This initiative is powered by taxable sustainable revenue bonds, marking a strategic move in a market where there is a high demand for taxable paper. With Wells Fargo
The village of Dolton, a suburb of Chicago, has found itself in dire financial straits, with a negative $3.65 million balance in its general fund as of May. What is even more alarming is the fact that the village has failed to submit any audited financial reports since the fiscal year 2021, despite statutory requirements
California Republican Rep. Mike Garcia recently introduced a bill that would cut federal funds for the state’s high-speed rail project. The project, which has been in development for 15 years, has failed to show any tangible results despite billions of dollars in taxpayer money being poured into it. The lack of progress on the high-speed
Tim Walz, the governor of Minnesota, has been at the forefront of proposing major investments in the state’s infrastructure. His $3.3 billion bonding bill, which aimed to address various infrastructure needs, was considered to be the largest in the state’s history. Additionally, earlier in the year, he proposed a $1 billion infrastructure package, showcasing his
In a surprising turn of events, the North Carolina Local Government Commission has approved Cabarrus County’s request to sell $186 million in bonds. This decision comes after the county’s initial request in July was met with resistance and lack of approval. The vote on Tuesday resulted in a seven-to-one approval, with only the Commission Chair
The recent clash over environmental, social, and governance (ESG) investment policies among Congressional Republicans has sparked heated debates and discussions in the political arena. Last week, the House Republican ESG Working Group released a comprehensive 37-page report titled “The Failure of ESG: An Examination of Environmental, Social and Governance Factors in the American Boardroom and
After a long and uncertain process, the Tampa Bay Rays have finally received the green light from local governments to move forward with their plan to build a new government-subsidized ballpark in St. Petersburg, Florida. The Pinellas County Commission’s decision to commit $312.5 million from its tourist tax fund towards the $1.37 billion project has
In the last fiscal year, New York City’s pensions for police officers, fire fighters, teachers, civil employees, and school personnel surpassed their investment targets with a 10% return, outperforming their 7% goal. This success was largely driven by the booming U.S. stock market, with the S&P 500 posting a remarkable 22.7% return for the year