Ohio’s Governor, Mike DeWine, recently highlighted the state’s “highest possible credit rating” during his State of the State address in Columbus. With significant upgrades from Moody’s Ratings and S&P Global Ratings, Ohio now holds a triple-A credit rating. These upgrades reflect a demonstrated commitment to active budget management and maintaining reserves, providing a strong financial
Politics
Norfolk, Virginia, has recently made the decision to cancel its plans to call some of its outstanding Build America Bonds (BABs). The city had initially issued a conditional notice in March regarding the possible redemption of $56 million of its direct-pay taxable 2010B capital improvement BABs. However, according to a financial filing issued on Monday,
Virginia Governor Glenn Youngkin recently announced over 240 amendments to Virginia’s biennium budget, unveiling what he described as a common ground budget plan. This budget proposal, totaling $64 billion, was presented as a collaborative effort to benefit all Virginians without any tax increases or cuts. The budget plan includes a significant $21.3 billion investment in
Texas has recently made a controversial move to terminate a 52-year agreement for a toll lane project on the State Highway 288. The termination, which was instigated by the Texas Transportation Commission on March 28, will come at a hefty cost of $1.7 billion to the Texas Department of Transportation (TxDOT). This decision has raised
As New York State officials extend the state’s fiscal 2025 budget deadline for the second time, challenges regarding education, affordable housing funding, and more remain unresolved. The new deadline, set for Monday, April 8, highlights the complexities faced by legislators as they work towards a final agreement. The delay in finalizing the budget may not
California lawmakers have been forced to make some difficult decisions in light of the state’s record deficit. The initial budget shortfall estimate of $38 billion provided by Gov. Gavin Newsom was increased to $73 billion by the Legislative Analyst’s Office in February. This prompted lawmakers to take action, resulting in a $17.3 billion cut in
The Environmental Protection Agency recently made an announcement regarding a $20 billion grant to support clean energy projects, specifically in underserved areas. This funding, which is part of the Greenhouse Gas Reduction Fund created by President Joe Biden, is the largest federal investment in climate-related projects to date. However, the program has faced criticism from
Once again, for the second year in a row, the Treasury Department’s Green Book has failed to mention tax-exempt municipal bonds in the Biden administration’s tax policy initiatives and proposals. This absence is particularly puzzling given President Joe Biden’s strong emphasis on infrastructure as a key focus of his administration and campaign for reelection. The
Meeting the infrastructure demands in the United States poses a significant challenge, especially when public debt alone is not sufficient to cover the costs associated with infrastructure projects and the transition to decarbonization. This issue was emphasized by Larry Fink, the CEO of BlackRock, a leading global asset manager. Fink highlighted the necessity of private
The progress on the multi-billion-dollar people mover project at Los Angeles International Airport faced yet another setback last week when Fitch Ratings affirmed the speculative-grade BB-plus rating on California Municipal Finance Authority’s $1.2 billion senior lien revenue bonds. This affirmation came as the project’s completion date was extended by another six months, adding to the