The Municipal Securities Rulemaking Board (MSRB) has unveiled its budget for the fiscal year 2025, setting the financial agenda amid ongoing scrutiny from stakeholders and regulatory authorities. With a total budget estimated at $48.8 million—a slight uptick of 2.9% from the previous fiscal year’s budget—the MSRB’s financial management decisions highlight a commitment to transparency and
Politics
Proposition 98 is a pivotal legislative measure that mandates California’s government allocate a minimum percentage of its budget to education annually. Enacted to stabilize funding for public schools and community colleges, this constitutional guarantee plays a vital role in ensuring schools receive adequate financial resources to function effectively. However, the California School Boards Association (CSBA)
In the realm of economic policy-making, inflation and unemployment serve as twin pillars guiding the actions of central banks, particularly the Federal Reserve. Monetary policy is a delicate balancing act where the Fed must navigate the intricate interplay between these two factors to foster a stable economy. Recently, however, Jerome Powell, the chair of the
The landscape of municipal finance is poised for significant changes as Alabama Democratic Representative Terri Sewell steps into the role of co-chair of the House Municipal Finance Caucus. This transition follows the retirement of Maryland Democrat Representative Dutch Ruppersberger, who has long been a stalwart advocate for public finance issues. As Congress gears up for
The recent passing of a continuing resolution (CR) by the House of Representatives and the Senate has sparked discussions about the political dynamics involved in governance and the implications of temporary solutions in addressing persistent budgetary issues. This legislative action, designed to avert a government shutdown and maintain funding for essential programs, involved significant bipartisan
In recent years, an overwhelming trend across the United States has been the enactment of tax cuts. With 48 out of 50 states making a move to reduce taxes between 2021 and 2023, it appears that policymakers were trying to stimulate economies recovering from the adversities of the COVID-19 pandemic. This move, lauded initially as
Recent news from Moody’s Ratings indicates a significant shift in New Mexico’s financial standing. The credit rating agency has revised its outlook on the state’s Aa2 rating to positive from stable, directly impacting $521 million of outstanding general obligation bonds. This revision underscores Moody’s perception of New Mexico’s robust financial situation, characterized by surging operating
In a significant development in the municipal securities market, the Securities and Exchange Commission (SEC) has recently approved amendments to the Municipal Securities Rulemaking Board (MSRB) Rule G-14 concerning customer transaction reporting. This landmark decision reduces the trade reporting window from a lengthened 15 minutes to a more immediate one-minute timeframe. While this move represents
The Gateway Development Commission (GDC) stands on the brink of a significant achievement with the imminent finalization of its last funding grant for the Hudson Tunnel Project, expected by the end of this month. Chief Financial Officer, Pat McCoy, has emphasized that this project, receiving a remarkable $3.8 billion grant from the Federal Railroad Administration,
In the realm of infrastructure financing, the U.S. government has taken substantial steps towards fostering collaboration between public entities and private investors. Under the 2021 Infrastructure Investment and Jobs Act, the Innovative Finance and Asset Concession Grant program has become a pivotal initiative aimed at encouraging local and state governments to systematically assess their assets.