California voters prioritize environmental policy to such an extent that it can influence their choice for president, as indicated by a recent poll. Most Californians support a $10 billion bond measure aimed at financing flood control and climate resilience initiatives, with many intending to vote for President Joe Biden in the upcoming election. These findings
Politics
One of the major factors contributing to the high infrastructure costs in the U.S. is the lack of capacity at state transportation departments. According to a study presented at the Brookings 13th annual Municipal Finance Conference, state DOT workforces have been shrinking over the last decade, leading to workforce shortages. This shortage forces state transportation
The debate over environmental, social, and governance (ESG) investment strategies has become a contentious issue among state treasurers, with red and blue states taking opposing views on how to approach long-term fiscal responsibility. While Democrats like Illinois state treasurer Michael Frerichs view ESG as a strategy to determine a company’s sustainability for the long term,
In a recent announcement, Transportation Secretary Pete Buttigieg revealed that more than a dozen aging bridges in 16 states will benefit from $5 billion in federal grants. These bridges play a crucial role in supporting not only the regions they are located in but also the overall U.S. economy. According to Buttigieg, these spans are
As the world continues to face challenges related to public deficits, energy transition, and the increasing demand for artificial intelligence, the need for private infrastructure investment has never been more critical. BlackRock Chief Executive Officer, Larry Fink, recently highlighted major opportunities in this sector, emphasizing the crucial role that private capital will play in meeting
Federal Reserve Chair Jerome Powell recently confirmed during an interview at the Economic Club of Washington, D.C. that he will complete his term as the top official within the Fed Board of Governors, which ends in May 2026. However, Powell declined to comment on what might happen after that term. This announcement comes as Washington
Following the U.S. Supreme Court’s decision to overturn the Chevron doctrine, House Republican leaders have initiated a review of the Biden administration’s environmental, social, and governance agency regulations. Rep. Sam Graves and Rep. James Comer have reached out to key government officials, including Transportation Secretary Pete Buttigieg and EPA Administrator Michael Regan, requesting information on
Public infrastructure projects funded by federal emergency funds are facing stricter flood-risk standards in order to combat the increasing impacts of climate change. The Biden administration announced the implementation of new regulations that require buildings and other infrastructure built with Federal Emergency Management Agency (FEMA) funds to be elevated higher above local flood levels or
The shortage of Federal Highway Administration emergency relief funds has caused a major obstacle in determining how the eventual replacement of the Francis Scott Key Bridge in Baltimore will be financed. According to Senate Environmental Committee ranking Member Shelley Moore Capito, the ER program is currently facing a funding shortfall of over $3.5 billion, leading
Denver Mayor Mike Johnston has unveiled a plan for a sales tax hike to fund affordable housing in the city. This proposal calls for a 0.5% tax increase to raise approximately $100 million annually. If approved, this would add to the already existing 0.34% sales tax hike on the November ballot, aimed at generating around