Shows
Special BriefingSpecial Briefing on State Budgets: The Big SqueezeJoin William Glasgall, Penn IUR Fellow and Volcker Alliance Public Finance Advisor, and Susan Wachter, Co-Director of Penn IUR and Wharton professor and our expert panel as we address the rapidly darkening outlook for state and local budgets and what this means for policymakers, taxpayers, and investors. Panelists include Jonathan Womer, Director, Rhode Island Department of Administration; Emily Brock, Director, Government Finance Officers Association Federal Liaison Center; Shelby Kerns, Executive Director, National Association of State Budget Officers; Vikram Rai, former Head of Municipal Markets Strategy, Wells Fargo; Teryn Zmuda, Chief Economist, National Association of Counties.
As the widely adopted July 1...2025-05-2053 minSpecial BriefingSpecial Briefing | Mayors under Stress: Financing Local Development around the WorldCities around the world are facing a host of challenges. As the Organization for Economic Cooperation and Development observed recently, "places are rethinking how to stay competitive on the global stage. Technological change, the green transition and shifting global value chains are reshaping local economies."
Join Eugenie Birch, Co-Director of Penn IUR, and William Glasgall, Penn IUR Fellow and Volcker Alliance Public Finance Advisor, as our panel of current and former global mayors examine what cities should do now to set their future agendas for growth and shared prosperity. Speakers include Steve Adler, former Mayor, Austin, Texas; Stephanie Miner, former...2025-04-2854 minSpecial BriefingSpecial Briefing: The Future of Mass Transportation under Trump and the GOPThis Special Briefing is focused on the future of mass transportation under the new Administration and Congress.
Our expert panel discusses the upsurge in construction funded by the Bipartisan Infrastructure Law as well as solutions to hundreds of billions of dollars in budgetary shortfalls facing transit networks from coast to coast.
Speakers include Leslie Richards, Professor of Practice at the University of Pennsylvania Stuart Weitzman School of Design and former General Manager & CEO of Southeastern Pennsylvania Transportation Authority (SEPTA), the fifth-largest U.S. transit system; Kurt Forsgren, Managing Director and Sector Lead for Transportation, S&P Global; Randy Iwasaki, President...2025-04-0155 minSpecial BriefingSpecial Briefing: The New Administration's First MonthThe first Special Briefing of 2025 offers a deep dive into the new President’s first month and the implications of new policies. Featured speakers include former US Representative Carolyn Bourdeaux (D-GA); Jeffrey Holland, Vice President, Research, Peter G. Peterson Foundation; Eric Kim, Senior Director, U.S. Public Finance at Fitch Ratings; Vikram Rai, Fixed Income Strategist, Head of Municipal Markets Strategy at Wells Fargo; Torsten Slok, Partner and Chief Economist at Apollo; and Mark Zandi, Chief Economist, Moody’s Economics.
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“The implications from a macro perspective could become very, very important for interest rates, especially, of course, if the la...2025-02-2854 minSpecial BriefingSpecial Briefing: The Road Ahead for the Economy, States, and Localities as Donald Trump and the GOP Take ChargeMajor policy shifts in immigration, taxes, trade, energy, health care, and pandemic-era programs passed under the Biden Administration look increasingly likely with Donald Trump capturing the White House and his fellow Republicans taking control of both houses of Congress for the first time in two years. Our panel of experts share their views on what this sea change may mean for the economy and Federal Reserve, as well as the impact on states, localities, and the $4 trillion municipal bond market, including the possible elimination of the federal tax exemption on most muni bond interest.
Our panel of experts includes Torsten...2024-12-1752 minSpecial BriefingSpecial Briefing: America’s Growth RegionsThe US economy’s extraordinary recovery since the darkest days of the COVID-19 pandemic has continued into the fall of 2025, with inflation retreating and the Federal Reserve cutting interest rates to keep jobs and investment humming along. Our expert panel discusses where the economy is growing fastest—and less fast—and what this means for state and local budgets and finances.
Our panel of experts includes Rochester (Minnesota) Mayor Kim Norton, Georgia State Economist Robert Buschman, Fitch Ratings head of US State ratings Eric Kim, and PIMCO Senior Vice President Tom Schuette.
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“We were very pleased that money came dir...2024-11-0151 minSpecial BriefingSpecial Briefing: Year Ahead for America’s States and MunicipalitiesListen in to this episode of Special Briefing as Bill Glasgall of the Volcker Alliance, Susan Wachter of the Penn Institute for Urban Research (Penn IUR), and our panel of experts discuss the year ahead for America’s states and municipalities. Fiscal 2025 will be an especially consequential one, with the Federal Reserve expected to cut interest rates for the first time in almost five years as inflation and the economy cool; the impending end of federal emergency pandemic aid; and, of course, the likely consequences of the November presidential and congressional elections.
Our panel of experts includes Vikram Rai, head of...2024-09-2750 minSpecial BriefingSpecial Briefing: State Tax BreaksOn this episode of Special Briefing, experts discuss the latest Volcker Alliance issue paper, Benefit or Burden: Evaluating $1 Trillion in State Tax Expenditures. The issue paper addresses how US states hand out massive tax breaks every year to advance policy goals, such as aiding low-income families, spurring business investment and job creation, or mirroring the federal tax code. Known broadly as tax expenditures, these exemptions, credits, abatements, and other measures reduce state revenues by an estimated $1 trillion a year, almost three times their 2021 total state expenditures on education. Such tax expenditures, which often suffer from lax government oversight, may be...2024-07-0953 minSpecial BriefingSpecial Briefing: Doom Loop or Boom Loop—Work from Home and the Challenges Facing US CitiesEver since the arrival of the COVID-19 pandemic in the US in 2020 led to a surge in people working from home, New York and other big cities have been forced to reckon with the possibility of a Doom Loop scenario of vacant offices and flagging economies. But given the right set of policies, cities can reverse their fortunes and embark upon a path to a Boom Loop of greater productivity and economic growth. Join Special Briefing as the authors of the Volcker Alliance issue paper, Doom Loop or Boom Loop: Work from Home and the Challenges Facing America’s Big Ci...2024-06-0852 minSpecial BriefingSpecial Briefing: America’s $900 Billion Water CrisisWhile the 2021 Bipartisan Infrastructure Law provides $50 billion to upgrade America’s drinking water, wastewater, and stormwater systems, much more will be needed to address the nation’s water infrastructure needs amid a changing climate and shifts in population. The Environmental Protection Agency estimates the US will need almost $900 billion in water investment over the next twenty years, plus hundreds of billions more for maintenance. These sums will burden federal, state and local budgets but also pose new opportunities—and risks—for investors in water projects.
Our panel of experts includes Senator Bill Bradley, former United States Senator, D-NJ; Doug Evanson, executiv...2024-05-0354 minSpecial BriefingSpecial Briefing: America’s Hot Growth StatesWestern and southern states including Idaho and Florida were among those growing the fastest from the eve of the pandemic in 2019 through 2022. But there were some surprises as well, with Delaware, Maine, and New Jersey also joining the Census Bureau’s hot growth list. While the ability of many Americans to move to low-tax states and work from home played a large role in the population shift, other factors may have been at play as well. Meanwhile, rapid population expansion poses challenges in many of these states as they cope with enlarging school systems, updating infrastructure, and preparing communities for th...2024-04-0555 minSpecial BriefingSpecial Briefing: State Tax CutsWith their revenues and cash reserves at record highs after unprecedented federal aid to offset the impact of COVID-19, dozens of states embarked on the biggest wave of tax cuts in decades, slashing levies by at least $124 billion on everything from personal income to groceries and gasoline. Tune into this Special Briefing as the authors of the forthcoming Volcker Alliance issue paper, State Tax Cuts after the Pandemic: Strategies to Sustain Fiscal Health, and an expert panel discuss whether these reductions can be sustained as revenues have begun to weaken despite the strong US economy.
Our panel of experts includes...2024-03-0956 minSpecial BriefingSpecial Briefing: 2024 Fiscal Outlook for States and CitiesFor America’s states and municipalities, 2024 is likely to bring long-awaited relief from inflation and higher interest rates while presenting challenges—and not just because it’s a presidential election year. States, cities, and counties will have to contend with the imminent end of $350 billion in federal pandemic budget aid even as the revenue boom of recent years cools and the need for increased spending to ameliorate the risks of a changing climate put pressure on infrastructure spending. Listen in as our panel of experts discuss strategies that state and local governments are adopting to meet these challenges.
Our panel of exp...2024-02-0257 minSpecial BriefingSpecial Briefing: Public Pensions - Still a Crisis?Many states, counties, and cities emerged from the COVID-19 pandemic and resulting recession with record cash reserves following the US government’s injection of $5 trillion to revive the economy and prop up local government budgets. But even after the unprecedented federal support, states and municipalities have been left with more than $1.3 trillion in unfunded liabilities for public employee pension benefits that were promised but are not fully funded. Join our panel of experts as they discuss strategies that state and local governments are adopting to reduce this pension burden and whether they may have to reduce spending for education, infrastructure, an...2023-12-1255 minSpecial BriefingSpecial Briefing: Rolling Out the $1.2 Trillion Infrastructure Investment & Jobs Act—What’s Being Built and What’s in the PipelineThe Volcker Alliance and Penn Institute for Urban Research invite you to join an online Special Briefing on how the rollout of the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) is proceeding. A critical part of legislation passed by Congress to combat the economic impact of the COVID-19 pandemic and enhance the durability and sustainability of the nation’s infrastructure, the bipartisan deal promises thousands of new jobs and billions of dollars for roads, bridges, public transportation, water systems, and broadband access. Through July, the value of highway and bridge construction work was running 24 percent ahead of the 2020-21 pace, Am...2023-10-3155 minSpecial BriefingSpecial Briefing: Recession? Soft Landing? … Impact on States and CitiesThe Volcker Alliance and Penn Institute for Urban Research (Penn IUR) invite you to join an online Special Briefing focusing on whether Federal Reserve moves to slow inflation may result in a recession or soft landing in coming months and how states and localities may be impacted.
Our panel of experts includes Zac Jackson, Indiana budget director; Eric Kim, senior director, Fitch Ratings; Torsten Slok, chief economist, Apollo Global Management; Matthew Stitt, director and national lead for equitable recovery and strategic financial initiatives, PFM’s Management and Budget Consulting team, and former CFO, Philadelphia City Council; and Kate Watkins, president an...2023-09-2953 minSpecial BriefingSpecial Briefing: The Future of Mass Transportation as US Pandemic Aid Nears an EndThe panel discusses the outlook for mass transportation across the US amid waning federal pandemic emergency aid and lagging ridership as metropolitan area commuters continue to work from home. This episode includes a remembrance of our great friend and colleague, Richard Ravitch, the former New York State lieutenant governor, Metropolitan Transportation Authority chairman, Volcker Alliance director, and tireless advocate for fiscally sustainable state and local budgeting, who passed away on June 25.
Our panel of experts includes Janno Lieber, chair and chief executive officer, Metropolitan Transportation Authority; former US Transportation Secretary Anthony Foxx; Kurt Forsgren, managing director and sector lead for...2023-08-0855 minSpecial BriefingSpecial Briefing: The Debt Ceiling Deal and its Impact on the US Economy, States, and MunicipalitiesThe panel of experts discusses the fallout for the US economy, states, and municipalities from the recent deal to raise the federal debt ceiling.
Our panel of experts includes Matt Fabian, partner, Municipal Market Analytics; Marcia Howard, executive director, Federal Funds Information for States; Annie Linskey, white house reporter, the Wall Street Journal; Vikram Rai, managing director and head of the municipal strategy group, Citigroup; and Torsten Slok, chief economist, Apollo Global Management.
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“The problem that this debt crisis identified is that talking about cutting spending has revealed a field of landmines, even for Republicans who got to of...2023-06-2958 minSpecial BriefingSpecial Briefing: Avoiding Municipal DistressWhile the US unemployment rate is near a record low and $5 trillion in federal pandemic aid continuing to support the economy, American cities are enjoying healthy budget surpluses as COVID-19 recedes. But many of the underlying contributors to municipal distress and bankruptcy in the 2010s—underfunded pensions, deteriorating infrastructure, and population loss among them—still pose threats to many cities’ long-term fiscal health.
Our panel of experts includes Rob Dubow, director of finance, City of Philadelphia; Heather Gillers, reporter, the Wall Street Journal; Stephanie Miner, former mayor, Syracuse, New York, and director, the Volcker Alliance; Richard Ravitch, former lieutenant governor, New Yo...2023-06-0154 minSpecial BriefingSpecial Briefing: Managing Growth in America's Hottest States, Counties & CitiesAmerica’s hottest growth cities and states are facing challenges as they deploy resources to handle the recent pickup of domestic and international immigration to the South and West. US Census data show that Texas and Florida showed a net gain of almost 1 million residents in 2022; they and the rest of the ten fastest-growing states added a total of 1.6 million people. Will this influx help keep these states out of recession? What are the budgetary demands on infrastructure, housing, public safety, education, and the environment, and how will governments tap into recent federal infrastructure legislation?
Our panel of experts includes Ma...2023-05-1255 minSpecial BriefingSpecial Briefing: Revitalizing Downtowns by Turning Offices Into HomesWith working from home persisting even as the COVID-19 pandemic wanes, our panel of experts discuss how to attract more people back to center cities, and the keys to increasing street life, bolstering commerce, and preventing further losses in municipal property and sales tax revenues.
Our panel of experts includes Maria Torres-Springer, New York City Deputy Mayor for Economic and Workforce Development; Stijn Van Nieuwerburgh, Earle W. Kazis and Benjamin Schore professor of real estate and professor of finance, Columbia University's Graduate School of Business; Amy Cotter, director of climate strategies, Lincoln Institute of Land Policy; and Heather Long, columnist...2023-05-0455 minSpecial Briefing40. Special Briefing: Revitalizing Downtowns by Turning Offices Into HomesWith working from home persisting even as the COVID-19 pandemic wanes, the panelists discuss revitalizing downtowns by turning offices into homes. Attracting more people back to center cities to live as well as work is the key to increasing street life, bolstering commerce, and preventing further losses in municipal property and sales tax revenues.
Our panel of experts include Maria Torres-Springer, New York City Deputy Mayor for Economic and Workforce Development; Stijn Van Nieuwerburgh, Earle W. Kazis and Benjamin Schore professor of real estate and professor of finance, Columbia University's Graduate School of Business; Amy Cotter, director of climate strategies...2023-03-3100 minSpecial BriefingSpecial Briefing: State and Local Budgets in Uncertain TimesAs governors and mayors announce their spending plans for fiscal 2024, the panel of experts discuss state and local budgets in uncertain times.
Our panel of experts includes Shelby Kerns, executive director, National Association of State Budget Officers; Eric Kim, senior director, Fitch Ratings; Lauren Larson, director, Colorado Governor’s Office of State Planning and Budgeting; and Gabriel Petek, legislative analyst, State of California.
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“People only think about the impact on state budgets when we are facing a recession, when it’s getting closer, when the risks are getting higher; I can assure you that state budget office...2023-02-2855 minSpecial BriefingSpecial Briefing: The Future of DowntownsThe panel of experts discuss the future of downtowns in American cities as office vacancy numbers remain high and public transportation usage remains low.
Our panel of experts includes Howard Cure, director of municipal bond research, Evercore Wealth Management; Steven J. Davis, senior fellow, Hoover Institution, and professor of business and economics, University of Chicago Booth School of Business; Tracy Hadden Loh, fellow, Anne T. and Robert M. Bass Center for Transformative Placemaking, Brookings Metro; Stijn Van Nieuwerburgh, Earle W. Kazis and Benjamin Schore professor of real estate and professor of finance, Columbia University's Graduate School of Business; and Romy...2023-01-2759 minSpecial BriefingSpecial Briefing: 2023 Outlook for States and CitiesThe panel of experts discuss issues including inflation, employment, housing, jobs, and the possibility of a recession, as we look towards the new year.
Our panel of experts includes Mayor Kate Gallego, Mayor of the City of Phoenix, Arizona; Emily Brock, director, Federal Liaison Office, Government Finance Officers Association; Natalie Cohen, president and founder, National Municipal Research; Julia Coronado, president, MacroPolicy Perspectives and clinical associate professor of finance, McCombs School of Business at the University of Texas at Austin; and Mark Zandi, chief economist, Moody’s Analytics.
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“I've been serving as mayor since 2019, so COVID hit at the tail...2022-12-2355 minSpecial BriefingSpecial Briefing: Big Cities, Big ChallengesThe panelists discuss how Inflation has yet to be controlled, recession is looming, federal COVID-19 budgetary aid will soon expire, and working from home is decreasing demand for Center City businesses. What can be done?
Our panel of experts includes Greg David, director, business and economics reporting program, City University of New York Craig Newmark Graduate School of Journalism, and a contributor to The City, covering fiscal and economic issues; Shirley Clarke Franklin, former mayor, Atlanta, Georgia, and director, The Volcker Alliance; Heather Gillers, reporter, the Wall Street Journal; and Farhad Omeyr, program director of research and data, National League...2022-11-3054 minSpecial BriefingSpecial Briefing on the Inflation Reduction Act: Investment Opportunities and ChallengesThe panelists discuss the impact of the Inflation Reduction Act on state and local budgets, focusing on the opportunities and challenges that are on the road ahead.
Our panel of experts included Ben Beachy, vice president of manufacturing and industrial policy, BlueGreen Alliance; Sarah Gimont, associate legislative director for environment, energy and land use policy, National Association of Counties; Justin Marlowe, research professor, University of Chicago Harris School of Public Policy; and Richard Prisinzano, director of policy analysis, Penn Wharton Budget Model, the Wharton School, University of Pennsylvania.
Notable Quotes:
“This win-win approach to climate change that we see here is...2022-10-3152 minSpecial BriefingStagflation Ahead? Inflation and RecessionThe panelists discuss the latest figures on inflation released on quarter 3 of 2022, and analyze the likelihood of stagflation and recession as these inflationary pressures continue to impact the US economy as well as the outlook for states and municipalities and their budgets.
Our panel of experts includes Alison Premo Black, senior vice president and chief economist, American Road & Transportation Builders Association; Beth Ann Bovino, US chief economist and managing director, S&P Global Ratings; Hughey Newsome, chief financial officer, Wayne County, Michigan; Gabriel Petek, legislative analyst, State of California; and Mark Zandi, chief economist, Moody’s Analytics.
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“I don...2022-09-1551 minSpecial BriefingVulnerable Cities Facing Work from Home RealitiesEven as the US recovers from the worst days of the COVID-19 pandemic, many cities continue to see substantial weakness in commercial office space utilization. The expert panel discusses research findings that reflect the slow return of employees to offices, which cities’ tax revenues may be most vulnerable, and what solutions are being deployed to adapt to the new workplace reality.
Our panel of experts includes Nick Bloom, William Eberle Professor of Economics, Stanford University, and co-founder, WFH Research; Andrew S. Rein, president, Citizens Budget Commission; Stijn Van Nieuwerburgh, Earle W. Kazis and Benjamin Schore Professor of Real Estate, Columbia Bu...2022-07-2055 minSpecial BriefingStates Cutting Taxes: Relief Now, Shortfalls Later?In a Special Briefing hosted by the Volcker Alliance and Penn IUR an expert panel discusses actions states and municipalities are taking related to tax relief, if they will provide inflation relief or spur economic growth—or whether they will lead to shortfalls if rising interest rates end in recession, just as much of the pandemic aid is set to expire.
This Special Briefing features a panel of experts, including Alex Adams, budget director, Idaho; Beverly S. Bunch, professor, School of Public Management and Policy, University of Illinois Springfield; Howard Cure, partner and director of municipal bond research, Evercore Wealth Ma...2022-06-2354 minSpecial BriefingDeployment of the $1 Trillion Infrastructure Investment and Jobs Act by States and LocalitiesWith the passage of the IIJA in November 2021, governments face the challenge of allocating more than $1 trillion of funding in a strategic manner that address both past neglected needs and paves the way for a sustainable future. Panelists discuss innovative solutions being pursued, roadblocks that are on the horizon, and the overall impact of this funding on the nation’s infrastructure and economy.
This Special Briefing features a panel of experts, including Patrick Brett, managing director and head, Citi Municipal Debt Capital Markets; Mayor Jorge Elorza, City of Providence, Rhode Island; Lauren Larson, director, Colorado Governor’s Office of State Plan...2022-05-1954 minSpecial BriefingInflation and Recession Risks for States and CitiesAs the outlook for inflation, interest rates, the possibility of a recession, are in flux, this Special Briefing looks at what it all meant for state and local finance. Jerome H. Powell, Chair of the Board of Governors of the Federal Reserve System, delivers brief welcoming remarks in appreciation of Paul A. Volcker (1927-2019), former Federal Reserve Chair and founding Chairman of the Volcker Alliance.
This Special Briefing features a panel of experts, including Mark Zandi, chief economist, Moody’s Analytics; Matt Gress, budget director, Arizona; Natalie Cohen, founder, National Municipal Research; and Les Richmond, vice president and actuary, Build Am...2022-04-2152 minSpecial BriefingWork from Home: What it Means for State and Local Economies and RevenuesThe shift to working from home, accelerated by the COVID-19 pandemic, poses a fiscal threat to the nation’s biggest cities, which depend on commercial property taxes for revenue, according to panelists at the March 17 Special Briefing hosted by The Volcker Alliance and the Penn Institute for Urban Research. Panelists discuss research on the rise of at-home employment and its implications for budgets, real estate markets, and transit systems.
This special briefing features a panel of experts, including Jose Maria Barrero, associate professor, Instituto Tecnològico Autònomo de Mèxico; Howard Chernick, professor emeritus, Hunter College, CUNY; Ally Schweitzer, repor...2022-03-1752 minSpecial BriefingNew York City: New Mayor, Federal Aid, Challenges to RecoveryAs Mayor Adam’s Administration begins to lay out plans for the future of New York City, panelists discuss the challenges New York City faces in 2022, including COVID-19, street crime, and the possibility of fiscal challenges as federal pandemic aid wanes in coming years. Featuring the findings from Penn IUR's Recovering Cities Project, which tracks the New York economy through 2020-21, and the final report Recovering New York City: A One Year Look Back on the Penn IUR Recovering Cities Project, and a Look Forward towards Recovery.
This special briefing features a panel of experts, including Ronnie Lowenstein, former head of...2022-02-1752 minSpecial Briefing2022 Outlook for States and CitiesAt the start of 2022 panelists join to discuss the anticipated path of the US economy, inflation, interest rates, the impact COVID-19 continues to have, and whether state and local governments face a “fiscal cliff” as federal pandemic budget aid is expended.
This special briefing features a panel of experts, including Lucy Dadayan, senior research associate with the Urban-Brookings Tax Policy Center at the Urban Institute; Larry Johnson, Commissioner, DeKalb County (Georgia) Board of Commissioners and president, National Association of Counties; Eric Kim, senior director, Fitch Ratings Inc.; Torsten Slok, chief economist, Apollo Global Management, and Mark Zandi, chief economist, Moody’s Anal...2022-01-2054 minSpecial BriefingState and City Spending of Federal Infrastructure FundsWith states and localities already contemplating how to maximize federal infrastructure funding after the passage of the Infrastructure Investment and Jobs Act, panelists in this episode discuss spending plan strategies and what may lay ahead for states and localities now burgeoning with one-time cash.
This special briefing features a panel of experts, including US Representative Earl Blumenauer (D-Oregon); Patrick J. Brett, managing director and head of Citi’s Municipal Debt Capital Markets and Capital Solutions businesses, chairman of the Municipal Securities Rulemaking Board, and advisory board member at Penn IUR; David Glick, associate professor in the Boston University Political Science De...2021-12-1653 minSpecial BriefingClimate Change, Federal Aid, and State and Local StrategiesThree days after President Biden signed the Infrastructure and Investment Jobs Act, panelists discuss the role of climate change in state and local finance budgeting, as well as the role the federal government may play under the bill and other measures proposed by the Biden Administration.
This special briefing features a panel of experts, including Tim Coffin, director of sustainability, Breckinridge Capital Advisors in Boston; Hughey Newsome, chief financial officer for Wayne County, Michigan; Emily Robare, vice president and credit research analyst, PIMCO Municipals; and Nora Wittstruck, director-ESG Lead for US Public Finance, S&P Global.
Notable Quotes:
“For example, wh...2021-11-1850 minSpecial BriefingBiden Infrastructure Plan: Unmet Needs and State of PlayAs finer details of the forthcoming infrastructure package are forming in congressional negotiations, panelists contemplate the unmet needs of US states and municipalities and how this federal funding could be strategically utilized to address these needs in a comprehensive manner.
This special briefing features a panel of experts, including Carolyn Coleman, executive director and CEO of the League of California Cities; Andrew F. Haughwout, senior vice president and policy leader for Household and Regional in the Federal Reserve Bank of New York’s Research and Statistics Group; Annie Linskey, White House reporter for the Washington Post; and Torsten Slok, chief ec...2021-10-2154 minSpecial BriefingInfrastructure Investment and Jobs Act: Clean Water, Better Broadband, Resilience, and EquityAs deliberations on an Infrastructure Package continue in Washington DC, the expert panel focuses on America’s needs for investment in clean water and wider access to broadband Internet service in states, cities, and counties.
This special briefing features a panel of experts, including Mayor Ras J. Baraka of Newark, New Jersey; Kathryn de Wit, project director of Broadband Access Initiative; Thomas Hazlett, Macaulay Endowed Chair in Economics at Clemson University; and Howard Neukrug, executive director of The Water Center at Penn.
Notable Quotes:
“We are also using this money for flood mitigation, rehab our water and waste pump stations, upgr...2021-09-2352 minSpecial BriefingBiden Infrastructure Plan: Resilience, Equity and Federal InvestmentMunicipal officials and analysts have their sights set on social equity and climate resilience as Congress debates more than a trillion dollars of infrastructure spending proposed by the Biden administration, panelists focus on how state and local governments will use existing American Rescue Plan Act funding to address broadband and water and sewer needs. Additionally, panelists weigh in on the outlook for investment by counties and cities and risks posed by climate change to states, counties, and cities in the $4 trillion municipal bond market.
This special briefing features a panel of experts, including Governor Brad Little, Idaho; US Representative Carolyn...2021-07-1552 minSpecial BriefingAmerican Rescue Plan and 2022 State and Local BudgetsWith states wrapping up FY 2021 and enacting FY 2022 budgets, the unique challenge of allocating the $350 billion in direct aid contained in the $1.9 trillion American Rescue Plan Act was being across the US. The expert panel discusses the impact on state budgets of the act’s assistance to individuals and families, educational institutions, and health care and mass-transportation systems.
This special briefing features a panel of experts, including Shelby Kerns executive director, National Association of State Budget Officers; Hughey Newsome, chief financial officer, Wayne County Michigan; Kim Norton, mayor of Rochester, Minnesota; Mark Zandi, chief economist, Moddy’s Analytics.
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“The ec...2021-06-1752 minSpecial BriefingThe $2.3 Trillion American Jobs Plan and State and Local Infrastructure NeedsWith the Biden Administration’s newly proposed American Jobs Plan being debated and refined in Congress, the panelists review the Plan’s priorities and what they estimate as likely to emerge as Congress debates the massive proposal. Additionally, the panelists discuss the concept of fifteen-year financing strategy on states, counties, cities, schools, and employment.
This special briefing features a panel of experts, including Representative Earl Blumenauer (D-Oregon); Marc Morial, president and CEO, National Urban League; Robert Poole, director of transportation policy and Searle Freedom Trust Transportation Fellow, Reason Foundation; Richard A. Ravitch, former New York State Lieutenant Governor; and Polly Trot...2021-05-2054 minSpecial BriefingState Budgeting, the COVID-19 Recession, and What Comes NextIn reviewing the newly released Volcker Alliance report, Truth and Integrity in State Budgeting: Preparing for the Storm, panelists discuss fiscal reforms that many states put in place before the 2020 recession as well as the role of trillions of dollars in federal aid in restarting the economy and stabilizing state budgets.
This special briefing features a panel of experts, including Erica MacKellar, program principal, National Conference of State Legislatures; Gabriel Petek, legislative analyst, State of California; Juliette Tennert, chief economist, Kem C. Gardner Policy Institute; and Lisa Washburn, managing director, Municipal Market Analytics.
Notable Quotes:
“Those states that upheld and st...2021-04-1553 minSpecial BriefingCOVID-19 Vaccine Rollout and the Impact on States and MunicipalitiesWith the beginning of COVID-19 vaccine availability to the general population change is on the horizon for state and local economies, with panelists discussing the Biden Administration’s COVID-19 vaccination plan and the impact on office work and state and local tax revenues and operations.
This special briefing features a panel of experts, including Greg Brown, executive director, Kenan Institute of Private Enterprise, UNC Kenan-Flagler Business School; Matthew Chase, executive director, National Association of Counties; Toluse Olorunnipa, White House reporter, Washington Post; Torsten Slok, chief economist, Apollo Global Management.
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“America’s Counties own over 900 hospitals, particularly for indigent care o...2021-02-1154 minSpecial Briefing2021 Outlook for States and CitiesAfter the passage of the second federal COVID-19 relief funding in late 2020, public finance experts discuss the outlook for further federal stimulus and state and local revenues and budgets as the rollout of new vaccines brings hope for an easing of the COVID-19 pandemic.
This special briefing features a panel of experts, including Shelby Kerns, executive director, National Association of State Budget Officers; Eric Kim, senior director and head of US State Ratings, Fitch Ratings; Vikram Rai, managing director and head of the Municipal Strategy Group, Citigroup; Mark Zandi, chief economist, Moody’s Analytics.
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“After the Great Recession, even as reve...2021-01-1451 minSpecial BriefingWorking with the Cares Act and What May Come NextAs Congress debates the details of the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA), panelists reflect on the lessons states and localities have learned from the spending of CARES Act funding and look ahead to what may be in store in the fight against COVID-19 and its fiscal fallout in 2021.
This special briefing features a panel of experts, including US Representative Carolyn Bourdeaux (D-GA); Julie Demuth, budget manager, Pierce County, Washington; Mark Funkhouser, former mayor, Kansas City, Missouri, and president, Funkhouser & Associates; Fitzroy Lee, chief economist and deputy chief financial officer, District of Columbia; Brandon McComas, research associate, Peter...2020-12-1052 minSpecial BriefingAssuring Public Worker Retirement Security Amid COVID-19 Fiscal StressWith Congressional inaction on COVID-19 relief aid since the passage of the CARES Act in March 2020, panelists in this episode focus on how states and localities are addressing trillions of dollars in public employee retirement obligations as governments attempt to balance budgets amid the COVID-19 pandemic and recession.
This special briefing features a panel of experts, including Donald J. Boyd, co-director, State and Local Government Finance Project, Center for Policy Research, Rockefeller College of Public Affairs & Policy, University at Albany; David G. Lenze, economist, Regional Accounts, US Bureau of Economic Analysis; Timothy Little, director and lead analyst, US States, S...2020-11-1951 minSpecial BriefingState and Local Infrastructure Spending Cutbacks Amid the COVID-19 RecessionAs governments look to balance budgets amid the stress of the COVID-19 pandemic and recession, panelists discuss potential further steps such as delayed infrastructure projects that may be seen barring any further passage of federal relief funding. With states and municipalities providing an estimated 80 percent of US public infrastructure investment, the panel also discusses how the slowdown on such projects may affect the economy, jobs, and the municipal market.
This special briefing features a panel of experts, including Alison Premo Black, PhD, senior vice president and chief economist for the American Road & Transportation Builders Association (ARTBA); Norman E. Brown, nonvoting...2020-10-1551 minSpecial BriefingFiscal and Operational Priorities for Cities in the COVID Crisis EraNavigating an unprecedented mix of challenges mayors across the US rely on innovative fiscal and managerial actions to navigate the lasting early impacts of the COVID-19 pandemic and new challenges on the horizon. In discussing these actions panelists touch on the research on city fiscal conditions by Professor Reschovsky as well as a new national survey of municipal leaders by Engaging Local Government Leaders, Route Fifty, and other partners.
This special briefing features a panel of experts, including Linda J. Bilmes, Daniel Patrick Moynihan senior lecturer in public policy and public finance, Harvard Kennedy School, Harvard University; Andrew Reschovsky, professor...2020-09-1053 minSpecial BriefingHow Cities and Counties are Coping with COVID-19's Fiscal ShockEstimates mid-2020 forecasted budgetary shortfalls of as much as $1 trillion, with uncertainty surrounding how state and local governments would close the gap panelists discuss the steps that public officials are deploying for the recession and eventual recovery. Additionally, the panelists contemplate the prospect of further federal relief.
This special briefing features a panel of experts, including Natalie Cohen, president and founder of National Municipal Research; Elizabeth Kellar, senior fellow, Center for State and Local Government Excellence and director of public policy, International City/County Management Association (ICMA); Chuck Reed, former mayor, San Jose, California and special counsel, Hopkins & Carley.
Notable...2020-07-1650 minSpecial BriefingUnemployment and State and Local Fiscal ConsequencesWith unemployment remaining high in key service and tourism sectors, panelists discuss the COVID-19 pandemic’s impact on the labor market, the deterioration of the finances and credit outlooks of states and localities, and the role of further federal assistance and loans to governments, companies, and individuals.
This special briefing features a panel of experts, including Timothy J. Bartik, senior economist, Upjohn Institute for Employment Research; Matt Fabian, partner, Municipal Market Analytics; Marcia Van Wagner, vice president-senior credit officer, Public Finance Group, States Team, Moody's Investor Service.
Notable Quotes:
“The total job impact of these state and local spending cuts woul...2020-06-2550 minSpecial BriefingState and Local Fiscal Stress and the Politics of Federal AidAs debate on further federal economic relief and aid packages continues in Washington DC, as panelists meet to discuss the politics, probability, and possible shape of such a package. They also examine the likelihood of state and local fiscal distress, and how it may be addressed, especially if deliberations fail to result in timely and significant further funding.
This special briefing features a panel of experts, including Norman J. Ornstein, resident scholar at the American Enterprise Institute; Robin Prunty, managing director and head of analytics and research for S&P Global Ratings—US Public Finance; Richard A. Ravitch, former New Yo...2020-06-1849 minSpecial BriefingUS Economy and Critical Needs of States and MunicipalitiesWhile cities and states navigate the repeal of pandemic related restrictions amid demonstrations and civil unrest, panelists discuss the US economic outlook as a whole and the early stages of the need for the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA).
This special briefing features a panel of experts, including Austan D. Goolsbee, Robert P. Gwinn professor of economics at the Booth School of Business, University of Chicago; Dan Smith, associate professor of public policy and administration and director of the Master of Public Administration Program at University of Delaware; Juliette Tennert, Chief Economist at the Kem C. Gardner...2020-06-1153 minSpecial BriefingOutlook for Cities as State Economies ReopenAs states and cities have begun lifting restrictions set early in 2020 due to the COVID-19 pandemic, panelists discuss the challenges and opportunities facing US cities, especially midsized ones that face challenges in a changed economy.
This special briefing features a panel of experts, including Bruce J. Katz, distinguished fellow, Lindy Institute for Urban Innovation at Drexel University; Stephanie Miner, former Mayor, Syracuse, New York; Kim Norton, Mayor, Rochester, Minnesota.
Notable Quotes:
“The Federal Government, however, has not really, to date, used cities and counties and states as a distribution system.” - Bruce Katz
“This year, the largest portion of our budget...2020-06-0452 minSpecial BriefingFunding of Essential Services: Strategies for Generating Cash through Improved Public Asset ManagementAs some state and local governments face dire revenue projections in the first months of the COVID-19 pandemic and the resulting economic shutdown, panelists discuss strategies that public leaders can explore to generate additional cash by improving management of their physical assets.
This special briefing features a panel of experts, including Michael A. Nutter, former Mayor, Philadelphia; Eric Berman, partner, Eide Bailly, LLP; Michael Imber, managing director at Conway MacKenzie, Inc.
Notable Quotes:
“The impact is even greater [than the 2008 crisis], the economic loss seems to be larger, and with no particular end in sight. As quickly as things shut do...2020-05-2852 minSpecial BriefingFuture of US Aid to States, Counties, and Cities after the CARES ActAfter trillions of dollars in pandemic-related expenditures were addressed with the CARES Act, panelists forecast the role Congress will play in helping state and local governments address hundreds of billions of dollars in revenue lost by economic shutdowns triggered by the pandemic.
This special briefing features a panel of experts, including Early Blumenauer, Representative Third District of Oregon (D); William A. Galston, senior fellow at Brookings Institution Governance Studies Program.
Notable Quotes:
“From my perspective we’re dealing with a reality that is much worse than we thought, and is probably worse than we think. The lessons learned from the Grea...2020-05-2155 minSpecial BriefingFederal Reserve Municipal Liquidity Facility: How $500 Billion in Credit Will Bolster America’s States, Counties, and CitiesAs the federal government continues to grow the fiscal response to the COVID-19 pandemic, experts from the government finance sector discuss the newly announced Federal Reserve Municipal Liquidity Facility (MLF) and how states, counties, cities, and public agencies could be able to access MLF credit to help offset projected revenue shortfalls.
This special briefing features a panel of experts, including Patrick Brett, managing director and head of Citi’s Municipal Debt Capital Markets and Capital Solutions businesses; Emily Swenson Brock, director of the Government Finance Officers Association’s Federal Liaison Center; Peter Hayes, BlackRock managing director, chief investment officer.
Notable Quot...2020-05-1451 minSpecial BriefingFederal Aid to States and Municipalities: Federal Dollars, State and Local NeedsWith the passage of the CARES Act on March 27, 2020, expert panelists convene to discuss how states and localities could tap the massive aid and credit provided to address needs in late spring of 2020. Looking ahead, panelists also outline further the potential need for further aid to keep budgets in balance, preserve essential public services, and prevent critical infrastructure from deteriorating further.
This special briefing features a panel of experts, including Bill Haslam, former governor of Tennessee; Robert P. Inman, Richard K. Mellon Professor Emeritus and professor of finance, economics, and public policy, Wharton School; Stephen Klein, chief fiscal officer of...2020-05-0752 minSpecial BriefingFiscal Outlook for US Cities: Strategies for Survival and RecoveryExperts on state and local public finance join to estimate in April 2020 which cities would be most vulnerable to budgetary shocks resulting from the then just beginning COVID-19 pandemic and the strategies they could employ to see them through crisis and eventual recovery.
This special briefing feature a panel of experts, including Shirley Clarke Franklin, former mayor of Atlanta, Georgia; Mary Murphy, project director for fiscal and economic policy, state fiscal health, The Pew Charitable Trusts; Michael A. Pagano, dean of the College of Urban Planning and Public Affairs at the University of Illinois at Chicago, and director of the...2020-04-3052 minSpecial BriefingStress-Testing State Budgets and the Critical Role of Rainy Day FundsIn a Special Briefing hosted by the Volcker Alliance and Penn IUR in the opening days of the COVID-19 pandemic, experts focus on the economic and fiscal scenarios posed by the coronavirus pandemic for US states and municipalities as well as how governments may choose to deploy fiscal reserves to help preserve essential services.
This special briefing features a panel of experts, including Katherine Barrett and Richard Greene, special project consultants at the Volcker Alliance, principals of Barrett & Greene Inc.; Scott Pattison, senior fellow at the Institute of Fiscal Studies and Democracy of the University of Ottawa; Dan White, director...2020-04-2350 minSpecial BriefingImpact of COVID-19 on the Fiscal Outlook of State and Local GovernmentsThe Volcker Alliance and Penn Institute for Urban Research cohost a special briefing discussing the strategies for surmounting the severe fiscal challenges that the coronavirus pandemic is posing for US states and municipalities in April of 2020.
This special briefing features a panel of experts, including Thomas W. Ross, president of the Volcker Alliance, Richard A. Ravitch, former New York State Lieutenant Governor and Volcker Alliance board member, Matt Fabian, partner and head of market and credit research at Municipal Market Analytics.
Notable Quotes:
“The Coronavirus pandemic is making it abundantly clear that the survival and security of people everywhere depends on...2020-04-1651 minSpecial BriefingSpecial Briefing: Never Miss an InsightSpecial Briefing brings federal, state, and local government leaders together with prominent researchers, economists, and investors to reflect on today’s most salient and critical public finance issues.2020-04-0101 min