GOP reconciliation bill falters in House Budget Committee

The GOP's "big beautiful bill" was voted down Friday in the House Budget Committee amid conservative Republican opposition. The 16-21 vote means the closely watched tax-and-spending legislation won't be taken up Monday in the Rules Committee. Instead, the budget committee may meet again Monday to take up the bill again, according to committee chair Jodey C. Arrington, R-Texas. House Speaker Mike Johnson, R-La., had hoped for a full House floor vote next week ahead of the Memorial Day break.

Save the date: The Bond Buyer’s Infrastructure conference comes to Boston on Sept. 29 and Sept. 30.

At a Bond Buyer conference in Atlanta, industry leaders from the Southeast and around the country talked about tariff turmoil, the tax-exemption, weather resiliency, infrastructure and more. 

The Bond Buyer is excited to announce that nominations are open for this year’s class of the Hall of Fame of municipal finance and the 10th annual class of Rising Stars, a program showcasing the brightest young minds in this industry.

S&P Global Ratings lifted Arkansas' general obligation rating to AA-plus with a stable outlook from AA, citing the state's financial management. The upgrade on Thursday follows the rating agency's revision a year ago of its outlook on the state to positive from stable. 

Watch what the municipal bond industry’s innovators and influencers are saying in our Leaders series of video interviews. Check out our lineup of future live interviews and archived conversations.

International tariffs and potential cuts to Medi-Cal took center stage as California Gov. Gavin Newsom announced the May revisions to his state budget proposal. The release of the revised budget launches intensive talks between the governor and lawmakers leading to the budget signing ahead of the fiscal year on July 1.

Oregon's economists say the state will have $755 million less to spend than originally projected over the two-year budget cycle because of the economic slowdown. And the current uncertainty around federal policies means the situation could become even more dire in coming months, the state's Office of Economic Analysis told lawmakers Wednesday.

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