As the 118th Congress nears its wrap-up next week, lawmakers will converge on Capitol Hill to finalize critical legislation, particularly focusing on government funding, national defense authorization, and disaster relief provisions. Set for closure on December 20, the upcoming lame-duck session is pivotal, albeit reluctant to address significant municipal market concerns. Insights from industry experts
Politics
The recent downgrade of Manhattan, Kansas’ bond rating by Moody’s is a crucial development that highlights the city’s financial challenges and governance issues. The agency lowered the issuer and general obligation rating from Aa3 to A1 following the late submission of the city’s fiscal 2022 audited financial report. This downgrade comes with a significant warning:
In a significant move aimed at revitalizing Washington D.C.’s sports landscape, the City Council has allocated funding for a $515 million renovation of Capital One Arena, while also facilitating the necessary financial groundwork for the city’s baseball stadium. This dual approach illustrates a comprehensive strategy not just to upgrade existing facilities, but to create an
Natural disasters have a far-reaching impact beyond the immediate devastation of infrastructure; they can disrupt the lifelines of communities—public transportation systems. As cities grapple with recovery, organizations are stepping up to ensure that these critical transit networks are not left behind. Recently, the American Public Transportation Association (APTA) has made headlines with its urgent request
The nomination of Scott Bessent by President-elect Trump for the role of Treasury Secretary has stirred mixed feelings and cautious optimism within the municipal bond market. As president and CEO of the American Securities Association, Chris Iacovella aptly highlights Bessent’s familiarity with the intricacies of the market, stating that he “knows markets.” This knowledge and
As climate change increasingly threatens the stability of infrastructure systems across the United States, states are seeking innovative financing strategies to develop climate-resilient infrastructure. A recent report from Pew highlights that municipal bond issuance is expected to rise significantly over the coming decade as states create plans to accommodate the urgent infrastructural demands created by
As the political landscape shifts with the upcoming congressional session, tax policy is poised to become a pivotal topic of discussion. The recent subcommittee hearing convened by the Senate Banking Committee featured incoming Ranking Member Sen. Elizabeth Warren from Massachusetts, who took a critical stance toward the previous Tax Cuts and Jobs Act (TCJA) of
The ongoing discussions surrounding the financing of a new stadium for the Tampa Bay Rays have recently intensified, exposing cracks in the relationship between the Pinellas County Commission and the Major League Baseball team. Up until now, both parties had spoken of a hopeful future, but recent events have sowed doubt and frustration. The county
The announcement of Sean Duffy as Donald Trump’s nominee to head the U.S. Department of Transportation has elicited a mixture of enthusiasm and skepticism. Trump’s assertion that Duffy will bring a wealth of experience and relationships from his nine-year tenure in Congress speaks to a strategic hope for a smoother path toward ambitious infrastructure reforms.
On the occasion of the third anniversary of the Infrastructure Investment and Jobs Act (IIJA), the Biden administration reaffirmed its commitment to enhancing the nation’s infrastructure with the announcement of $3.4 billion in new grants. These funds signify a continuation of the ambitious goals set forth by the IIJA, which has already allocated nearly $570