The impending deadline for the U.S. debt ceiling has resurfaced debate and uncertainty that could potentially destabilize financial markets and impact municipal bond issuers. With the borrowing limit expected to be reached in mid-January, the U.S. Treasury prepares to utilize extraordinary measures intended to buy time, while simultaneously warning Congress of the urgent necessity for
Politics
In recent weeks, two major financial entities, Bank of America (BofA) and Morgan Stanley, made headlines by withdrawing from the Net-Zero Banking Alliance (NZBA). This exit comes on the heels of scrutiny from Texas Attorney General Ken Paxton, drawing attention to the far-reaching implications of state legislation on corporate environmental practices. The NZBA, which promotes
The District of Columbia’s latest fiscal assessments reveal a noteworthy financial gain, amounting to $169.7 million beyond earlier projections. This uptick stems primarily from one-off litigation proceeds and fiscal reconciliations linked to previous year recoveries, according to Glen Lee, the chief financial officer. In his correspondence to both the mayor and the chair of the
The political landscape of Washington, D.C. is poised for a distinctive shift as President-elect Donald Trump gears up for his second term. Recently, Trump met with D.C. Mayor Muriel Bowser, an encounter that holds both symbolic and practical significance for the relationship between the federal government and local city administration. Despite their previous tensions, most
The world lost a significant figure when former President Jimmy Carter passed away at the remarkable age of 100 in his beloved home in Plains, Georgia. His story, marked by a commitment to public service and humanitarian efforts, unfolded from humble beginnings. Originally serving as a peanut farmer and local leader, Carter’s trajectory led him
The New York Metropolitan Transportation Authority’s (MTA) ambitious capital plan for 2025-2029 has encountered a significant obstacle — a veto from a state review board consisting of the leaders from both houses of the state legislature. This $68 billion initiative, which proposes crucial updates and projects, faces a daunting $33 billion budget gap that has
In a significant legal showdown, six Texas cities have emerged victorious against the state comptroller in a lawsuit over a controversial change to sales tax distribution. The conflict stems from a rule adopted in 2020 by the Texas Comptroller’s office, led by Glenn Hegar. This rule sought to shift the responsibility for sales tax collection
The tumultuous week in Washington culminated in a temporary measure to keep the federal government operational until March 14, 2024. Amidst the ongoing debate about the future of the debt ceiling, significant funding victories emerged for the states of Maryland and Washington D.C. The resolution, designed to maintain government functions, highlights the complexities of modern
The financial landscape in Texas has entered a contentious phase, particularly regarding the role of banks in environmental and social governance (ESG) issues. The recent decision by Texas Attorney General Ken Paxton to conclude a lengthy 14-month review of Wells Fargo highlights the intricate balance financial institutions must navigate between regulatory compliance, public sentiment, and
The failure of the recently proposed continuing resolution (CR) aimed at keeping the federal government operational until March 14 has raised significant alarms across the political landscape. This breakdown, which took place amidst vocal opposition from President-elect Trump and tech magnate Elon Musk, is testing the delicate balance of federal funding, particularly for states and