Blog

The IRS indicated that tax-exempt interest has been declining on returns since 2018. The date from the pre-pandemic year of 2019 shows $6.2MM households claimed the tax-free interest of $60B down from$ 6.3MM claiming $62.6B in 2018. I...

The White House is in the process of drawing up an ambitious plan on how to spend the $3560B in FED aid they are receiving under the American Rescue Pan. The White House feels that the most urgent use of funds is to provide relief to...

CA’s governor indicated that he wants to “raid the reserves” of their unprecedented budget surplus. Facing a likely recall election later this year, Newsome crafted a budget that spends the most money in the...

Some Federal Reserve Officials were open to the debate about "scaling back" the asset purchases. This "potential" taper talk is not uncommon, and I suspect we will hear a lot of this type of talk over the next several months. Powell...

The Treasury Department began laying out the groundwork for submitting applications for the $350B in relief funds for states and municipalities. This framework will set up rules to ensure the money quickly flows toward COVID relief...

IL reported that their general fund revenue in April jumped 46% from a year ago. The total general fund budget rose to $5B in April 2021 from $3.40B in April 2020. We will continue to see these types of moves as states and cities...

Last night 4/28, President Biden took a risky move while calling on some Americans to pay higher taxes to fund the $1.8T deal he proposed. He promised sweeping changes following the pandemic, indicating this will be a "once in a...

States are continuing to slash their deficit forecasts due to the increased revenue stream and unexpected tax flow dollars from our economic recovery. IL is the latest state moving its deficit numbers down to $3B from $5.5B. The...

The FOMC indicated no change in policy on 1/27/21 and only slight changes to the economy's overall outlook and growth. They are concerned about "pockets of weakness" and commented that the economy's slowdown was much more...

NY is seeking $15B in aid from President Joe Biden. Governor Cuomo presented a state budget for fiscal 2022. He indicated that if NY does not receive substantial help from the government, it will force him to raise revenue, cut...

President-elect Biden will unveil today a COVID Relief Package rivaled in size only by last year’s $2Trillion Cares Act. Transition officials developed a proposal with Democratic lawmakers in recent days; the package is expected...

With the Ga Senate race over & a Democratic win, President-elect Biden can push for another stimulus bill extending assistance to cities and states to help fight against shutdowns. With this backstop in place, it allows primary...

The $3.9 trillion U.S. municipal bond market is on track to finish 2020 with returns of about 5.2%, marking the seventh straight year of gains and showcasing the rebound from a record selloff in March as fears about the...

On many occasions, the FED has indicated that rates will not move for the next several years and unanimously approved to keep the FED Funds rates at 0.00 to .25%, where it has been since March. We remain buyers of High-Grade paper,...

With the FED indicating yesterday that rates will stay “the same for many years," they refined their communication on the time horizon of asset purchases. The FED signaled a very long-term "dovish" signal and indicated that the...

Large transportation systems in the US are struggling to retain cash flow. Many are pleading with Congress for FED funds to avoid deep service cuts and layoffs while warning that an economic comeback depends on mass transit. MTA's,...