The Massachusetts Bay Transit Authority recently priced over $1 billion of senior sales tax bonds, as it contends with the aftermath of the COVID-19 pandemic, which has led to significant ridership and revenue losses. Similar to many other transit agencies nationwide, the MBTA is dealing with a remote work environment that has impacted its operations
Politics
The recent report from the Illinois state comptroller showcases a significant improvement in the end-of-year general revenue fund cash balance. This increase of 55% year-over-year indicates a positive shift in the state’s financial management. In the past, Illinois struggled with unpaid bill backlogs that reached over $10 billion, presenting a severe challenge for the state’s
California’s high-speed rail project reached a significant milestone with the approval of the final environmental clearance for the most challenging segment of the route. The California High-Speed Rail Authority gave the green light to the Final Environmental Impact Report/Environmental Impact Statement at a two-day meeting, marking the completion of the environmental approvals needed for the
The West Contra Costa Unified School District, based in Richmond, California, recently faced a setback when it failed to approve an accountability plan necessary to pass a budget by the end of the fiscal year. This failure has triggered concerns about the district’s financial stability, leading to intervention from Contra Costa County. County Intervention As
Michigan’s fiscal 2025 budget of $82.5 billion is set to include investments in roads and bridges, courtesy of the $700 million final tranche of Rebuilding Michigan Plan bonds. These bonds are expected to be issued later this year and will fund projects ranging from repairs to a key bridge in Erie Township, road work on
In a departure from tradition, Governor Gavin Newsom delivered a pre-recorded State of the State address that focused more on national politics than on the pressing issues facing California. Critics were quick to point out that the speech barely touched on the state’s challenges, as Newsom highlighted the comparison between the California Dream and the
The House Committee on Transportation and Infrastructure is pressing the Department of Transportation for explanations regarding the seemingly slow progress of infrastructure spending. Despite the Department receiving over $364 billion since the enactment of the Infrastructure Investment and Jobs Act (IIJA), concerns have been raised about the allocation of funds. Committee Chair Rep. Sam Graves
The Securities Industry and Financial Markets Association (SIFMA) and the State of Missouri find themselves caught in a legal battle over the state’s groundbreaking environmental, social, and governance (ESG) investment regulation. Both parties have filed summary judgment bids in an attempt to sway the judge in their favor. The court has scheduled oral arguments for
Denver Health, Colorado’s only safety net healthcare provider, is facing a crisis. The escalating costs of uncompensated care have led to a staggering total of $140 million in the previous year, up significantly from $87 million in 2021. The strain on the health system’s budget is evident, with CEO Donna Lynne highlighting the lack of
California Governor Gavin Newsom and lawmakers have come to a budget agreement that they believe will help close multi-year deficits by making $16 billion in cuts and declaring a statewide fiscal emergency to utilize reserves. This agreement is an effort to maintain the fiscal structure proposed in Newsom’s May budget revision to balance the budget