Bonds

The pandemic has highlighted the importance of basic functional infrastructure, budget management and affordable housing to the vitality of cities. That’s the takeaway from the 2021 State of the Cities report released Thursday by the National League of Cities. Nearly 600 cities, towns and villages were surveyed along with 57 mayoral speeches that provided additional
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Tax-exempt bond advocate Rep. Jackie Walorski of Indiana is the new Republican co-chair of the congressional Public Finance Caucus. Walorski, a former member of the Indiana Legislature, is a co-sponsor of two bills in the current Congress to expand the use of private activity bonds in financing public buildings and affordable housing. She succeeds former
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The California state treasurer wants Congress to triple the federal cap on tax-exempt private activity bonds that are used for high-speed rail projects and other surface transportation to $45 billion. California Treasurer Fiona Ma emphasized in a letter Monday to key House and Senate Democrats and Republicans the importance of including private investment in the
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House Democrats have introduced a five-year $547 billion surface transportation reauthorization bill that the committee will consider next week. House Transportation and Infrastructure Committee Chair Peter DeFazio, D-Ore. unveiled their INVEST in America Act Friday. The bill would provide federal funding for roads, bridges, mass transit, and rail infrastructure which is important for many issuers
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San Diego’s regional transportation planning agency introduced a $160 billion draft regional plan that hinges on high-density housing development along transit lines. The 30-year plan drafted by the 21-member board of the San Diego Association of Governments has the support of environmental and labor groups though it faces opposition from some Republicans and anti-tax groups.
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The Biden administration is proposing the authorization of $50 billion in direct-pay qualified School Infrastructure Bonds and doubling the limit on tax-exempt private activity bonds for transportation infrastructure to $30 billion. The Treasury’s so-called Green Book of proposed changes to tax law released Friday also calls for an enhancement of the Low-Income Housing Tax Credit
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Utah Infrastructure Agency, a pioneer in financing public broadband, will connect its 16th city to an open fiber network known as Utopia. UIA expects to price $17.1 million of tax-exempt revenue bonds Wednesday through negotiation with Key Banc Capital Markets. Roger Timmerman, executive director of Utah Telecommunication Open Infrastructure Agency (UTOPIA), sister agency of UIA,
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Cruise ship ports in the U.S. may see some light at the end of the tunnel after more than a year without any departures because of the COVID-19 pandemic. Updated guidance from the Centers for Disease Control and Prevention outlines a path to resuming some U.S. cruises in July, though the evolving situation will continue
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Municipal bond issuers would be drawn into a widely-cast net of beefed-up tax enforcement by the Internal Revenue Service under legislation proposed Monday by Sen. Elizabeth Warren, D-Mass. The Restoring the IRS Act of 2021 would triple the IRS annual budget to $31.5 billion and make its funding mandatory rather than part of the annual
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Illinois will dip into its growing pot of tax revenues to pay off the remaining $2.175 billion of outstanding debt borrowed through the Federal Reserve’s Municipal Liquidity Facility to manage last year’s COVID-19 tax blows. The Treasury Department’s interim guidance, released May 10, barring debt repayment as an eligible use of American Rescue Plan dollars
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Upsets resonated through local Pennsylvania elections on Tuesday as incumbent mayors in Pittsburgh and Harrisburg lost Democratic primaries to Black candidates and the one in Allentown is too close to call. In Pittsburgh, state Rep. Ed Gainey toppled two-term Mayor Bill Peduto and is an overwhelming favorite to become the Steel City’s first Black mayor.
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The fracas between governors and legislatures over executive powers during the COVID-19 pandemic is reaching a new level in Pennsylvania — two proposed constitutional amendments. Keystone State voters on Tuesday will decide on two ballot measures that would limit the governor’s emergency disaster declaration powers and enable the state legislature to end a declaration with
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