The request for a second municipal lending facility was made in a bipartisan letter sent to the Fed last week by four senators.
The $3 trillion plan doesn't allow advance refundings or reinstate Build America Bonds
More than four out of five states needed supplemental appropriations, rainy day funds or fiscal reserves to meet coronavirus challenges.
More issuers are missing bond payments and deadlines for filing annual financials; the Roman Catholic Church of the Archdiocese of New Orleans filed for bankruptcy partially blaming COVID-19, affecting $41 million of bonds.
Groups representing dealer firms and issuers both weighed in positively Monday evening after the Fed’s afternoon decision that it will expand its Municipal Liquidity Facility in both scope and duration.
The president said he envisions infrastructure as “a big part” of the next round of emergency legislation.
The new bill to replenish the Paycheck Protection Program clarifies that hospitals created as political subdivisions are eligible.
GASB said the delay comes in response to a number of requests because of the coronavirus pandemic, with some finance officers asking for up to an extra two years.
The FAA announcement came several hours before the Treasury Department said it has reached loan and grant agreements with major passenger air carriers.
The board will "review the MSRB’s organizational response to the COVID-19 pandemic, including measures to ensure the safety of staff and stakeholders."