The Senate Thursday overwhelmingly passed a five-year Federal Aviation Administration authorization that features a 20% boost for major airport capital improvement projects. The bipartisan measure, which had been stalled by negotiations over an ultimately successful move to add additional flights to Ronald Reagan Washington National Airport, heads now to the House, which is expected to

The long-planned Kentucky-Ohio Brent Spence Bridge won environmental approval from the Biden administration Friday, a “major milestone” for the bistate project that’s been in planning for more than 10 years. “This is an important step forward in bringing efficiency to our nation’s supply chain,” said said Republican Ohio Gov. Mike DeWine. “The project will address one

Chicago’s iconic lakefront is also its portal to water supplies from Lake Michigan, serving not only the city but 120 of its suburbs. But Chicago’s top suburban customer and Illinois’ largest water wholesaler, the DuPage Water Commission, now says it plans to strike out on its own. The commission revealed this week that it has

Current strategies to deploy public and private capital toward a green energy transition are experiencing mixed success, amid conflicting trends as both global oil demand and clean energy deployment rates rise together, according to panelists at the Milken Institute’s Global conference this week in Beverly Hills. “As many folks know, we aren’t doing that well

Municipal Market Analytics said municipal bond impairments from January through April were the highest since they began tracking in 2009, with the charter school sector totaling most impairments. MMA recorded 63 impairments this calendar year, with 59 of them coming in January to April, according to Wednesday’s issue of Default Trends. The four-month total was

Municipal triple-A yield curves were little changed Wednesday as the primary market demanded investor attention and were well received. U.S. Treasuries were weaker, and equities ended mixed. Several large new-issues priced led by $1.018 billion of the University of Chicago revenue bonds from the Illinois Finance Authority (Aa2/AA-/AA+/), with yields bumped seven to 15 basis

The California Supreme Court heard arguments Wednesday in a case brought by the state’s Democratic leaders that would block a sweeping anti-tax measure from November’s ballot. The initiative, called the Taxpayer Protection and Government Accountability Act (TPA), would amend the California constitutional rules governing how the state and local governments can impose taxes, fees and

Municipals were firmer in secondary trading as the primary market took focus, led by the accelerated pricing of $1.8 billion general obligation bonds from Illinois. U.S. Treasury yields fell out long and equities ended mixed. The two-year muni-to-Treasury ratio Tuesday was at 64%, the three-year at 63%, the five-year at 61%, the 10-year at 60%

Municipal issuers have seen more upgrades this year than downgrades, continuing a trend that began in 2021, while the overall rated universe of muni issuers has also grown. If current economic conditions persist, the trend will likely continue for the foreseeable future, market participants said. The total rated share of the market increased in the