News
Senate Passes Bipartisan Infrastructure Bill
On August 10, through a 69-30 vote, the Senate passed the infrastructure package that has been under negotiation since the beginning of March this year. The bill will roll out over $500 billion in “new” federal spending, providing fresh monetary … Read more
House Approves Biden’s Stimulus Bill
New York Times: Emily Cochrane March 10, 2021 Congress gave final approval on Wednesday to President Biden’s sweeping, nearly $1.9 trillion stimulus package, as Democrats acted over unified Republican opposition to push through an emergency pandemic aid plan that included … Read more
Advance Refunding Bill Introduced in the Senate
GFOA Member News: February 25, 2021 On February 25, Senator Roger Wicker (R-MS) introduced legislation reinstating advance refunding to the tax code. Senator Wicker has been a steadfast ally in support of bringing the provision back, citing the value the … Read more
5 ways the Fed’s interest rate decisions impact you
Sarah Foster September 18,2019 You don’t want to hit the snooze button when the Federal Reserve decides to raise or lower rates. The central bank of the U.S. – also known as the Fed – is charged by Congress with maintaining economic and … Read more
New round of China tariffs could set stage for more Fed rate cuts
8/1/2019 Reuters: Ann Saphir and Richard Leong President Donald Trump’s decision to impose new tariffs on Chinese imports has once more thrown the Federal Reserve a curve ball that could prompt the central bank again cut interest rates again to … Read more
Preparing for the Discontinuation of LIBOR and Transition to SOFR
May 2, 2019 GFOA Newsletter On July 27, 2017, the U.K. Financial Conduct Authority announced that it intends to stop compelling banks to submit London Interbank Offered Rates (LIBOR) by the end of 2021. The New York Fed has started … Read more
Liquidity Coverage Ratio Rule/HQLA Resource Center
GFOA Newsletter: July 27, 2017 Urge Your Congressional Representatives to Classify Municipal Securities as High Quality Liquid Assets! On July 25, 2017, the House Financial Services Committee approved HR 1624, bipartisan legislation that would require federal regulators to classify all … Read more
Using Benchmarks to Assess Portfolio Risk and Return
GFOA Newsletter April 6, 2017 Finance offices measure portfolio risk and return results against appropriate market benchmarks to verify that all the organization’s investment objectives are being met and that portfolio investment returns are appropriate, based on the level of … Read more
Tax Revenue Forecasts Are Lowered as States Enter Budget Negotiations
GFOA Newsletter: March 30, 2017 Based on recent tax revenue data, many forecasts could be revised downward further, creating uncertainty and potentially difficult choices for states, according to an analysis for state income and sales tax forecasts for fiscal years … Read more
House Introduces Legislation to Classify Municipal Securities as High Quality Liquid Assets
GFOA News Letter March 23, 2017 This week HQLA Champion Congressman Luke Messer (R-IN-6) has introduced bipartisan legislation (HR 1624) in response to a rule approved by the Federal Reserve Board, Federal Depository Insurance Commission, and the Comptroller of Currency … Read more
