The ongoing debate within the House Ways and Means Committee reflects a significant crossroads in U.S. tax policy, particularly spotlighting the implications of the Tax Cuts and Jobs Act (TCJA). As the 119th Congress delves into discussions, there looms a dichotomy between amplifying economic growth and curbing escalating national debt. This discourse is of paramount
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In a significant development that has sparked legal controversy, the town council of Gilbert, Arizona, stands accused of violating the state constitution through the approval of tax increases designed to fund vital infrastructure projects. This accusation, brought forth by the Goldwater Institute, showcases the ongoing tension between government financing needs and constitutional regulations regarding taxation.
As the Biden-Harris administration approaches its conclusion, the U.S. Department of Transportation (DOT) is making waves with significant funding allocations aimed at modernizing the nation’s infrastructure. With billions of dollars being rolled out in federal grants, the groundwork is being laid for a transformative approach to transportation in America. This article seeks to unpack the
The New York Metropolitan Transportation Authority (MTA) is set to embark on a new financial strategy, introducing bonds backed by its real estate transfer tax, often referred to as the “mansion tax.” This move marks a significant shift in how the MTA funds its capital projects, allowing access to funds in a volatile revenue environment,
As air travel continues to grow, the need for modernized and efficient airport infrastructure has never been greater. The U.S. Department of Transportation, through the Federal Aviation Administration (FAA), is responding to this challenge with a substantial investment of over $332 million in federal grants. This funding, which forms part of the Bipartisan Infrastructure Law
This week, the California state budget took a backseat to the urgent crisis of wildfires devastating Los Angeles. In the shadow of these fires, Finance Director Joe Stephenshaw briefed the public regarding Governor Gavin Newsom’s proposed budget for the 2024-25 fiscal year. While the state initially entered budget discussions boasting a modest surplus, the circumstances
The state of Maryland, despite its prestigious AAA credit rating, is grappling with a staggering $3 billion budget deficit. This fiscal shortfall stems from a combination of factors including sluggish economic growth, ballooning Medicaid expenditures, and the conclusion of various pandemic-relief programs. As the state grapples with its financial landscape, Governor Wes Moore has publicly
In a recent meeting, the North Carolina Local Government Commission reached significant decisions regarding various bond deals aimed at improving public infrastructure. Among the notable approvals were several substantial bond allocations: $252 million for Mecklenburg County, $200 million for the city of Durham, and bond anticipation notes of $130 million for the Piedmont Triad Regional
The Oklahoma Turnpike Authority (OTA) is poised for a significant return to the municipal bond market later this month, planning a hefty $1.3 billion undertaking. This financial maneuver is meant to fuel the controversial ACCESS Oklahoma program, designed to expand and enhance the state’s toll road infrastructure. Initially introduced by Governor Kevin Stitt in February
In a recent announcement, California Governor Gavin Newsom unveiled a proposed state budget that he claims is fully balanced and devoid of any deficits. With projections boasting an additional $16.5 billion in revenue for the upcoming fiscal year, Newsom attributes this optimistic outlook to a robust economy, favorable stock market trends, and increasing cash receipts.