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Cook County, Illinois, officials released a $9.89 billion executive budget recommendation Thursday, after saying in a press briefing Wednesday that the nation’s second-most populous county will see no new taxes or layoffs. Cook County Board President Toni Preckwinkle said 56 open positions are being cut. The eliminated positions were ones the county anticipated filling with

Muni advocates are gearing up for a contentious tax fight next year, particularly if Kamala Harris should prevail in the presidential election, as Congressional Republicans are already digging in with a nationwide tour preemptively attacking the tax policies of the current Vice President. On Tuesday, Rep. Jason Smith R- Mo., Chairman of the House Ways

Third quarter trade count this year has remained steadily above the one million mark, a trend that the Municipal Securities Rulemaking Board said could be a fundamental change in the market after a few less than consistent years. Trade counts increased 13% compared to the third quarter of 2023 and year-to-date average daily trade count

The Puerto Rico Oversight Board and the bondholders opposed to the proposed plan of adjustment remain far apart, according to disclosures on the EMMA web site Tuesday night. U.S. District Court Judge Laura Taylor Swain earlier this week extended the bankruptcy stay and set a Dec. 11 omnibus hearing to hear the opposing bond parties’

To better provide its clients with emission estimates and portfolio analytics in munis, along with other fixed-income asset classes, ICE has launched a climate transition risk solution. Along with ICE’s current coverage of sovereign, corporate equity, and private companies, the new solution allows clients to “assess and benchmark their financed emissions across a comprehensive range of fixed-income

Municipals were weaker Tuesday with the largest losses out long while U.S. Treasuries saw narrow gains on the day and equities ended up. Triple-A yields rose by up to five basis points, depending on the scale, while USTs saw yields flat or lower by a basis point or two. The two-year muni-to-Treasury ratio Tuesday was

San Francisco-based Wells Fargo has named Elena M. Gallo as its new head of government banking, where she will oversee the bank’s commercial banking division that serves more than 3,000 government agencies, public utilities, transportation, and housing authorities across 43 states and the District of Columbia. Gallo will replace Mara Holley, who is retiring after

Investors will have a chance to buy New York City’s third-ever social-labeled general obligation bonds this week. Comptroller Brad Lander said he has high hopes for the taxable $1.5 billion deal despite the awkwardness of Mayor Eric Adams’ recent federal criminal indictment on bribery charges.  “[The credit rating agencies] have reported they believe the city’s

Texas Capital is expanding its public finance team with the addition of five industry professionals, the Dallas-based financial services firm announced Friday. The public finance business was launched in May with the hiring of Steve Genyk, a former public finance head at UBS, as a managing director. The move came as the ranks of underwriters