The Financial Data Transparency Act (FDTA), enacted in December 2022, has become a contentious topic among municipal bond issuers and policymakers. While the intention behind this legislation is to enhance the quality and accessibility of financial data, its implications have sparked considerable debate, especially regarding the burden it places on smaller municipalities. Given that this
Politics
As financial markets constantly adapt to the Federal Reserve’s monetary policy, recent statements from Fed Governor Christopher Waller underline the complexity and uncertainty surrounding interest rate adjustments for the remainder of the year. Waller has indicated a potential interest rate cut of an additional quarter percentage point might be on the table during the next
As the 118th Congress approaches its concluding weeks, lawmakers are preparing for a crucial session that holds the potential to shape fiscal policy and authorizations for the upcoming year. With pressing issues on the table, including government funding, disaster assistance, and national defense, the clock is ticking for Congress to wrap up its legislative agenda
The recent downgrade of Manhattan, Kansas’ issuer and general obligation rating from Aa3 to A1 by Moody’s Ratings underscores a troubling reality for municipalities across the United States. The downgrade, which could lead to further reductions or even complete withdrawals of the rating, is attributed to a combination of delayed financial reporting and deteriorating fiscal
The Washington, D.C. City Council recently took significant steps toward enhancing the city’s sports venues, approving a substantial budget for the $515-million renovation of Capital One Arena. This facility serves as the home ground for two major professional sports teams: the NHL’s Washington Capitals and the NBA’s Washington Wizards. Mayor Muriel Bowser articulated the broader
In a significant move, the American Public Transportation Association (APTA) is advocating for an urgent allocation of at least $57.5 million from Congress to bolster the Federal Transit Administration’s Public Transportation Emergency Relief program. This funding is particularly critical for agencies grappling with the aftermath of Hurricanes Helene and Milton. Such emergencies underscore an essential
The recent announcement of Scott Bessent as President-elect Trump’s nominee for Treasury Secretary has stirred considerable interest within the municipal bond market. As a prominent figure in finance with experience advising major players, including George Soros, Bessent’s appointment is seen both as an opportunity and a concern for various stakeholders in the municipal arena. This
Climate change is no longer a distant threat. As the impacts of extreme weather events become increasingly apparent, states across the U.S. are recognizing the urgent need to enhance their infrastructure to withstand these challenges. A recent report by Pew highlights a pivotal development in this space: states are actively exploring various financing mechanisms to
As the Senate Banking Committee prepares for a pivotal year in tax policy discussions, the anticipation of vigorous debate surrounding the 2017 Tax Cuts and Jobs Act (TCJA) looms large. Incoming Ranking Member, Sen. Elizabeth Warren, D-Mass., has set the stage by labeling the TCJA a “scam of giant proportions.” Her remarks during a recent
The relationship between the Pinellas County Commission and Major League Baseball’s Tampa Bay Rays has reached a critical juncture, characterized by heightened tensions and uncertainty. On a recent Tuesday, the county commission made a notable decision to delay a crucial vote on a $312 million bond proposal aimed at financing a new stadium, a move