U.S. State and Local Outlook: Under Pressure – The prospects for spending are dour despite good underlying economic conditions

Source: Sarah Crane, Economy.com, January 30, 2018
(subscription required)

• Economic output from state and local governments is falling.
• Some provisions of the tax law increase the cost of borrowing and could alter the supply of and demand for municipal bonds.
• Federal proposals floated so far would put a greater onus on state and local governments to fund infrastructure spending…..