In a startling revelation, the top 25 state and local pension funds find themselves caught in a debacle, having suffered a staggering loss in public equity investments amounting to nearly a quarter of a trillion dollars in 2025. These figures have raised alarm bells as nearly $169 billion of these losses occurred within a mere
Politics
The ongoing budgetary turmoil in Washington D.C. is not just a financial matter; it’s a glaring indication of a deeply flawed political system that continues to disregard the needs of one of the nation’s most critical urban centers. Mayor Muriel Bowser’s recent concerns, voiced in a hastily organized press event, represent more than mere anxiety
Municipal bonds are a linchpin for American infrastructure investment, facilitating essential projects through tax-exempt financing. As Congress hashes out a massive tax package, the specter of eliminating or even scaling back these exemptions looms ever closer. It’s an alarming reality that could place our state’s fiscal health under siege, especially for smaller municipalities that rely
As the U.S. House of Representatives gears up to consider the fiscal 2025 budget resolution recently passed by the Senate, the stage is set for a political showdown that could have dire consequences for American families. The proposed budget is aimed at paving the way for a major tax reform package, but it is risking
In the wake of the Trump administration’s sweeping changes in tariffs, immigration, and government spending, the U.S. economy finds itself in a precarious balancing act. Federal Reserve Chair Jerome Powell epitomizes this uncertainty, emphasizing the Fed’s cautious “wait-and-see” approach regarding interest rates. He states plainly that determining the right monetary policy in response to these
The introduction of import tariffs by President Trump is more than just a political maneuver; it has far-reaching implications that local governments must navigate with caution. Initially met with optimism, these tariffs are starting to reflect the reality of economic uncertainty, particularly for municipalities relying heavily on sales tax revenues. Analysts like Sarah Sullivant from
The recent proceedings in Washington State’s legislature have unfolded like a political thriller, with moments of triumph quickly devolving into chaos. After the House and Senate’s joint approval of their operating budget, Governor Bob Ferguson’s swift rebuttal sent legislators scrambling to revise their plans. Far from a typical budgetary cycle, this scenario reflects an underlying
In recent discussions on Capitol Hill, the future of tax-exempt municipal bonds hangs in the balance, raising alarm bells among public finance advocates and local governments nationwide. Representative Don Bacon’s initiative to rally support for these bonds highlights the urgent need for policymakers to consider the broader implications of slashing this critical funding avenue. Tax-exempt
In the ongoing turbulence of U.S. fiscal policy, the discussion surrounding the repeal of tax exemptions on municipal bonds stands out as particularly controversial. A significant suggestion put forth by congressional Republicans holds that such a repeal could have far-reaching consequences that impact public utilities and, by extension, the average American household. These proposed changes
California is staring down the barrel of a monumental fiscal crisis with its much-lauded high-speed rail project, embodying the quintessential example of governmental inefficiency and financial mismanagement. The Legislative Analyst Office has revealed a staggering $7 billion shortfall that threatens the ongoing Central Valley segment. This deficit is not merely a line item in a