The House Ways and Means Committee is delving into a critical discussion during the 119th Congress, centering on the trajectory of the Tax Cuts and Jobs Act (TCJA). This debate is particularly charged, pitting the relationship between rising national debt and economic growth against one another. As advocates for municipal finance voice their concerns, worries
Politics
In a significant legal development, the Goldwater Institute has filed a lawsuit against the town council of Gilbert, Arizona, asserting that their recent decision to increase taxes violates the state constitution. This case underscores a growing tension between local governments seeking to manage infrastructure needs and the legal boundaries set by state law. The lawsuit,
The battle over the state and local tax (SALT) deduction has resurfaced with renewed vigor, as recent legislative proposals seek to address the challenges posed by the existing cap. This cap, established by the 2017 Tax Cuts and Jobs Act (TCJA), has been a source of frustration for lawmakers representing high-tax states, particularly New York,
As the United States progresses into an era marked by transformative leadership changes and innovative projects, the Department of Transportation (DOT) is poised to redefine its approach to federal infrastructure funding. With the winds of political change on the horizon, the DOT, under the guidance of U.S. Transportation Secretary Pete Buttigieg, has recently announced a
The landscape of aviation is rapidly evolving, necessitating significant updates and enhancements to airport infrastructures across the United States. In a decisive move, the U.S. Department of Transportation (DOT) is allocating over $332 million in federal grants earmarked for the modernization of 171 airport projects in 32 states. This stimulus, facilitated through the Federal Aviation
On a somber Friday morning, the shadow of raging wildfires loomed large over California’s financial landscape as Gov. Gavin Newsom’s proposed budget for the upcoming fiscal year was unveiled. The state’s finance director, Joe Stephenshaw, stepped onto the podium to deliver the news of a $322.2 billion budget plan, just as communities in and around
The state of Maryland, renowned for its AAA credit rating, is presently grappling with a daunting budget deficit amounting to $3 billion. This economic quandary is attributed to a confluence of factors, including stagnated growth, escalating Medicaid expenditures, and a withdrawal of pandemic relief resources. As the government stands at a critical juncture, Governor Wes
Recent developments in Texas politics reveal a significant shift in the relationship between state authorities and major financial institutions. Texas Attorney General Ken Paxton’s recent commendations towards Bank of America, Morgan Stanley, and JP Morgan for their withdrawal from the Net-Zero Banking Alliance (NZBA) highlight the state’s firm stance against perceived anti-fossil fuel agendas. This
In a recent address, California Governor Gavin Newsom unveiled a preview of the state’s 2025-26 budget, promising a balanced budget amid an array of economic fluctuations. This article seeks to analyze the implications of Newsom’s proposed budget and the economic conditions it reflects. Governor Newsom’s announcement claimed a fully balanced budget without deficits or anticipated
On the first Sunday of the month, the New York Metropolitan Transportation Authority (MTA) officially set in motion its long-awaited congestion pricing plan for vehicles entering lower Manhattan. This initiative marks a significant moment in urban transportation management, making New York the first city in the United States to impose tolls specifically to combat traffic