Bonds

Rhode Island last week appealed a decision that struck down its first-of-a-kind tolling program in a case that’s closely watched by other state transportation departments looking to drum up new revenue for transportation infrastructure. The Rhode Island Department of Transportation asked the U.S. Court of Appeals for oral argument, saying the case raises “important questions

States in the Southeast have a mixed message for electric vehicle makers and buyers. New factories to build EVs are celebrated and subsidized by the region’s largely GOP-controlled governments. But many of those same governments discourage EV ownership with special taxes levied on owners. It’s a dichotomy that’s frustrated public and non-profit attempts to root

Reparations programs for state and local governments have begun to spring up all over the country, whether in the form of proposals, established committees and task forces, or hard cash handed out to citizens, the idea of reparations has never had more financial backing behind it. While none of the reparations plans currently active have

For Janice Hofferber, new head of U.S. public finance at Moody’s Investors Service, a focus on fundamentals is key to all the agency does. “Our goal and our mission is really this — to provide investors with the insightful research that will help them make better investment decisions,” she told The Bond Buyer. Hofferber, who

Federal Reserve Bank of St. Louis President James Bullard said the U.S. economy is proving more resilient than expected and repeated his call for the central bank to keep raising interest rates. “I think we are going to have to get north of 5%. Right now I’m still at 5.375%,” Bullard told CNBC in an

A bill introduced in California’s legislature would prohibit banks or lenders with business customers that manufacture firearms from working on the state’s public finances. Senate Bill 637, introduced Thursday by California Sen. Dave Min, D-Costa Mesa, applies to every aspect of the state’s public finances including municipal bonds, capital projects and the state’s debt portfolio,

Bondholders, bond insurer Syncora Guarantee, bond trustee U.S. Bank National Association, and others launched new attacks on the Puerto Rico Oversight Board’s proposed Puerto Rico Electric Power Authority disclosure statement and plan of adjustment. These groups and a committee of claim assignees for National Public Finance Guarantee-insured PREPA bonds all objected to the plan’s superior

Build America Bond subsidy payments are subject to federal budget sequestration, and public power agencies that floated the bonds are not eligible for refunds, the U.S. Court of Appeals for the Federal Circuit ruled Friday. The ruling stems from a three-year-old lawsuit brought against the United States by six Midwestern public power agencies, led by

The quest to find a long-term funding fix for the Chicago region’s transit system began in earnest during the last month with Chicago area civic, planning, and business leaders on board. With ridership slow to return after the COVID-19 pandemic, the region’s bus and rail systems face a $730 million fiscal cliff in 2026 when

Transcription below:Chip Barnett (00:04):Hi and welcome to another Bond Buyer podcast. I’m Chip Barnett and my guest today is New York State Controller Thomas DiNapoli. And we’re going to be taking a look at New York State, the challenges it’s facing and the opportunities that lie ahead. Welcome to The Bon Buyer Comptroller DiNapoli. Thomas

The Oklahoma Turnpike Authority is the target of several bills in the state legislature that would change its bond and other practices in the wake of a controversial $5 billion plan to build toll road extensions. Measures filed by Republican and Democratic lawmakers come as the turnpike authority awaits an Oklahoma Supreme Court decision on

A big Texas bond deal to recover extraordinary costs incurred by natural gas utilities during a fierce 2021 winter storm finally won approval Friday from a state board, paving the way for pricing next month.  The Texas Bond Review Board approved the issuance of up to $3.6 billion of taxable customer rate relief bonds by

Municipals were weaker Friday ahead of a holiday-shortened week with a smaller new-issue calendar. U.S. Treasuries were firmer, and equities ended mixed. Triple-A benchmarks were cut three to 11 basis points, depending on the scale, pushing the one-year muni above 3% and the 30-year to 3.50%. UST yields fell two to five basis points. Muni-UST

New York City is heading to market with the biggest municipal bond deal of the holiday-shortened week, a $677.45 million tax-exempt general obligation bond offering that will refund some outstanding debt.   Lead managers Siebert Williams Shank, BofA Securities and RBC Capital Markets are set to price the fiscal 2023 GOs for institutions on Wednesday

The Rhode Island Housing and Mortgage Finance Corp. plans to price $135 million of special revenue bonds Wednesday to support its affordable mortgage program for first-time and lower income home buyers. The issuer, also known as RIHousing, is the state’s housing finance agency. The largest of the three tranches of Homeownership Opportunity Bonds is the

Property tax cuts and expanded school vouchers will be fast tracked for consideration by Texas lawmakers after Gov. Greg Abbott included them in a list of emergency items for the legislative session. In his Thursday evening State of the State address, the Republican governor also said he will soon announce a $100 billion transportation infrastructure

Tax-exempt bonds for sports stadiums are once again in the crosshairs under a bill introduced this week by Oregon Democrat Rep. Earl Blumenauer. The bill would amend the tax code – or “close a loophole,” as Blumenauer said – to eliminate the federal tax exemption for bonds that finance or refinance capital expenditures for a

Two of the Federal Reserve board’s seven governors abstained from supporting the selection of former Obama aide Austan Goolsbee to become president of the Chicago Fed, according to a record of the vote. Governors Michelle Bowman and Christopher Waller, who were both appointed to the board by former President Donald Trump, withheld their support for

The Municipal Securities Rulemaking Board is seeking comment on draft amendments to Rules G-47 on time of trade disclosures and D-15, which defines the sophisticated municipal market professional. The draft amendments to Rule G-47 codifies existing guidance, adds additional disclosures that may be material, retires and consolidates certain elements of interpretive guidance and makes other

Municipals extended their sell-off Thursday, as the front end of the curve was hit the hardest. U.S. Treasuries were weaker, and equities ended in the red. Triple-A benchmarks were cut 13 to 17 basis points at the one-year, depending on the scale, pushing it to around 3%. Muni-UST ratios rose on the short end. The

The Georgia Ports Authority and the Army Corps of Engineers have signed an agreement to expand the Port of Brunswick, a move state officials said will help prepare the port for expansion. The agreement, announced Monday, clears the way for the Corps to begin dredging and widening certain sections of the port to accommodate larger