The spread of COVID-19 has disrupted many aspects of our lives including the municipal bond markets. It is clear that both regulatory and legislative intervention is needed at this time to minimize the disruption to our marketplace, enable state and local governments to dedicate resources in the areas of most dire need, and stimulate the general economy. Thank you to everyone who has conveyed suggestions along those lines.

Because of the strong interest expressed by the membership on these subjects, NABL has set up this resource area to keep you informed of ongoing projects, updates, and access to member-provided resources. 

Check back regularly for updates.

May 19, 2020: NABL Releases Issue Briefings for Congress. These briefings closely follow the April 9, 2020 letter NABL sent to Congress and Treasury. They expand on the legislative items from our letter and focus on how Congress can help mitigate the challenges state and local governments are facing as a result of the COVID-19 pandemic.  You can find the briefings here

April 16, 2020: NABL sends letter to the Federal Reserve on their Municipal Liquidity Facility.  You can find the letter here

April 9, 2020: NABL sends letter to Congress and Treasury as they continue to develop additional legislative and regulatory initiatives to provide economic stimulus and fiscal relief as a result of the economic impact of the COVID-19 pandemic. This letter is a follow up to our March 22, 2020 letter and provides a robust explanation of how certain proposals will assist in getting our nation through these uncertain times. You can find the letter here

March 25, 2020: NABL sends letter to Treasury requesting certain immediate relief. In the letter, NABL asks for the following:

  1. Clarity that, at least for a temporary period, TEFRA hearings are not required to be held in person; and
  2. Provide relief as it relates to refunding and remarketing issues.

You can find the letter here

March 22, 2020: NABL Sends Letter to Congress/Treasury on COVID-19 Economic Stimulus Package, available here.

In the letter, NABL asks Congress and the Treasury to adopt certain bond-related proposals that will allow state and local governments to access much needed capital now, at a time when support to our communities is of paramount and immediate concern.

August 8, 2020: Ways & Means Chairman Rep. Richard Neal releases statement on Presdient Trump's payroll tax and unemployment memo. Read the press release here.

August 8, 2020: Senate Finance Co-Chair Sen. Ron Wyden Statement on Trump Executive Actions on Unemployment Benefits, Payroll Tax Cut. Read the press release here.

August 6, 2020: Senate Finance Chair Sen. Chuck Grassley on Additional Republican Proposals to Help Unemployed Americans. Read the press release here.

July 29, 2020: House Financial Services Chairwoman Maxine Waters issues a statement on Senate's HEALS Act. Read the press release here.

July 20, 2020: Elise Stefanik (R-NY) releases letter urging Sen. Mitch McConnell to support aid for state and local governments in the next coronavirus relief package. 

  • View the press release here.
  • Find the letter here.

July 14, 2020: Senators Warren, Van Hollen, Cortez Masto urge Treasury Secretary Mnuchin and Fed Chairman Powell to provide greater financial assistance to state and local governments. Find the press release on Sen. Warren's website here.

  • Find the letter here.

July 8, 2020: Wicker, Bennet Introduce American Infrastructure Bonds Act. Find the press release here.

July 8, 2020: Representative John Katko  (R-NY) Leads House GOP Effort to Deliver Direct Aid to Local Governments. Read the press release here.

July 2, 2020: Senator Roger Wicker (R-MS) publishes, What They Are Saying: LOCAL Infrastructure Act. Read it here.

July 1, 2020: Wicker, Stabenow, Colleagues Introduce LOCAL Infrastructure Act. Read the press release here.

  • Find a one-pager on the legislation, including organizations supporting the bill, here.

July 1, 2020: On July 1, 2020, Senator Grassley Issues Response to Economic Effects of COVID-19, Including Relief to States and Localities. Read more here

July 1, 2020: Senate Environment and Public Works Committee to hold virtual meeting, Better, Faster, Cheaper, Smarter, and Stronger: Infrastructure Development Opportunities to Drive Economic Recovery and Resiliency. View the webcast on their website, here.

 

June 29, 2020: Democratic leadership sends letter to Senate Majority Leader Mitch McConnell requesting the Senate to take up the House HEROES Act. Read the letter here.

June 25, 2020: Rep. Dutch Ruppersberger (D-MD) co-sponsors The Moving Forward Act (H.R. 2) infrastructure package. Find the press release here

June 25, 2020: House Financial Services Chairwoman Maxine Waters Applauds Inclusion of Her Housing Infrastructure Bill in House Infrastructure Package. Find the press release here. More information on the Housing is Infrastructure Act here.

June 22, 2020: Sen. Ron Wyden (D-OR) releases a statement on study showing the benefits on the CARES Act. Find the press release here.

June 18, 2020: House Democrats Unveil Moving Forward Act, the House infrastructure package containing bond provisions. Find more information here and a fact sheet here. Find the bill text here.  For a more clear explanation of what is contained in the bill, read the Section by Section, here

June 10, 2020: House Speaker Nancy Pelosi responds to CBO letter calling for federal aid for state and local governments. Find the release here.

June 8, 2020: Bipartisan House members send letter to Chairman Jerome Powell and Secretary Steven Mnuchin calling for a broader muni program. Read the letter here.

  • Per the letter, led by Rep. Tom Reed (R-NY): "We... encourage the Treasury and the Federal Reserve to expand eligibility for the Municipal Liquidity Facility by further lowering the population thresholds for participation, thereby providing these communities with access to this necessary liquidity during this crisis." 

June 4, 2020: The Senate Environment and Public Works Committee held a virtual meeting on infrastructure. Watch the webcast here.

June 3, 2020: House Democrats submit $494 billion surface transportation bill, tackling the pandemic and climate change.

  • Find the bill text here.
  • Find the bill summary here.
  • INVEST in America Section-by-Section here.

June 2, 2020: The Senate Banking Committee held a committee meeting on the implementation of the CARES Act. Watch the webcast here.

June 1, 2020: Brady introduces bill requiring states that received funds from the Coronavirus Relief Fund to certify that they plan to redistribute some to local governments. More here.  

  • Find the bill, H.R. 7065, here.

May 26, 2020: Committee to Hold Bipartisan Virtual Roundtable on Impact of COVID-19 on Capital Markets.  A video recording of the roundtable will be made available on the Committee’s Majority and Minority websites after the roundtable’s conclusion. View a recording of the virtual roundtable here

May 15, 2020: Business Leaders Urge Congress To Send $1 Trillion In Relief Funding To States And Local Governments. Read the letter here.

May 15, 2020: House passes $3 trillion coronavirus relief package.

May 14, 2020: Senators Menendez, Tillis, Murowski, and Brown send letter to the Fed and Treasury regarding secondary purchasing facility. Read here.

May 12, 2020: House Democrats unveil $3 trillion coronavirus relief package. Find text of the bill here

May 6, 2020: Senator Kirsten Gillibrand (D-NY) introduces the Direct Support for Communities Act. Find the bill here

May 6, 2020: Senator Dan Sullivan (R-AK) introduces legislation to allow states to use Coronavirus Relief Fund payments to cover revenue shortfalls. Read the bill here.

May 6, 2020: A group of senators, including Minority Leader Chuck Schumer (D-NY), introduces the Direct Support for Communities Act. Read more about it here.

May 5, 2020: Senator John Kennedy introduces bill to give states flexibility in using coronavirus relief funds. Read the bill text here.

May 5, 2020: Senate Finance Committee members wrote to Secretary Steven Mnuchin urging the department to change its interpretation of the CARES Act preventing businesses from deducting expenses associated with Paycheck Protection Program (PPP) loans that are ultimately forgiven. Read here.

May 4, 2020: Rep. Nita Lowey (D-NY) sends Dear Colleague letter addressing federal assistance for state and local governments. Read here.

May 1, 2020: A group of lawmakers sent a letter to Secretary Mnuchin and Chairman Powell discussing COVID-19 relief for state and local governments. Read the letter here.

May 1, 2020: A bipartisan group of House members sent a letter to Congressional leadership urging them to separately invest in direct funding for smaller and rural county governments in the upcoming COVID-19 relief packages. You can find it here.

Click the image below to view the April updates.

Click the image below to view the March updates.

IRS Operations During COVID-19: Mission-critical functions continue.  View more information here

MSRB Monitors Impact of Coronavirus on the Municipal Securities Market. View more information here

August 10, 2020: MLF Sample Purchase Rates as of Monday, August 10, 2020. More here

August 3, 2020: MLF Sample Purchase Rates as of Monday, August 3, 2020. More here

July 29, 2020: Interim Report of Costs Incurred by State and Local Recipients through June 30 for the Coronavirus Relief Fund.  More here

July 28, 2020: Federal Reserve Board announces an extension through December 31 of its lending facilities that were scheduled to expire on or around September 30.  The Municipal Liquidity Facility is already set to expire on December 31. More information can be found here

July 27, 2020: MLF rate publication now available: Municipal Liquidity Facility Sample Purchase Rates. More here

July 24, 2020: New York Fed Releases Updated Form Documents and Certifications for the Municipal Liquidity Facility. The New York Fed has updated the Form Documents and Certifications to include a certification form for Governor-Designated Participants, and to update other documents.  More here.  

July 13, 2020: MLF Sample Purchase Rates as of Monday, July 13, 2020.  More here

July 8, 2020: Coronavirus Relief Fund Frequently Asked Questions Updated as of July 8, 2020.  More here

July 2, 2020: Memorandum for Coronavirus Relief Fund Recipients: Treasury Office of Inspector General Coronavirus Relief Fund Recipient Reporting and Record Retention Requirements.  More here

 

June 30, 2020: Updated Guidance: Coronavirus Relief Fund Guidance for State, Territorial, Local, and Tribal Governments Updated June 30, 2020.  More here

June 29, 2020: MSRB FAQ Update: Application of Rule G-23 to SEC’s Emergency Temporary Conditional Exemptive Order.  A new FAQ has been added that addresses the application of MSRB Rule G-23 to the Securities and Exchange Commission’s Emergency Temporary Conditional Exemptive Order concerning direct placements of municipal securities by registered municipal advisors. Read more here

June 29, 2020: Federal Reserve Bank of NY Publishes Municipal Liquidity Facility Sample Purchase Rates as of Monday, June 29, 2020.  More here

June 25, 2020: MSRB Releases Updated FAQs.  A new FAQ addresses a question related to the application of MSRB Rule G-23 to the SEC's emergency temporary conditional order concerning direct placements of municipal securities. More here

June 25, 2020: Federal Reserve Board releases results of stress tests for 2020 and additional sensitivity analyses conducted in light of the coronavirus event. More here

June 24, 2020: Treasury Releases New FAQs regarding the Coronavirus Relief Fund (CRF).  You can view the new FAQs here.  Additional information about the CRF can be found here

June 24, 2020: CARES ACT FAQs released.  More here

June 22, 2020: IRS resumes Form 8038-CP processing. Find more here.

June 22, 2020: MLF Sample Purchase Rates as of Monday, June 22, 2020. More here

June 15, 2020: New York Fed Announces Start of Additional Secondary Market Corporate Credit Facility Purchases on June 16. More here.

June 15, 2020: New York Fed Published MLF Sample Purchase Rates as of Monday, June 15, 2020.  More here

June 11, 2020: New York Fed Releases Updated Notice of Interest (NOI) for the Municipal Liquidity Facility. You can find more information here.  

June 11, 2020: GASB proposes application guidance on CARES Act and coronavirus disease issues. View here.

June 10, 2020: IRS Extends Opportunity Zone Deadlines. Read more here 

June 9, 2020: Proposed GASB Technical Bulletin: Accounting and Financial Reporting Issues Related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) of 2020 and Coronavirus Diseases.  Comments due June 25, 2020. More information can be found here

June 9, 2020: CBO sends a letter to Rep. Nancy Pelosi regarding economic state of state and local governments. Read the letter here.

June 8, 2020: Municipal Liquidity Facility (MLF) Sample Purchase Rates as of Monday, June 8, 2020.  More here

June 3, 2020: Fed Announces Expansion of Number and Type of Entities Eligible to use the Municipal Liquidity Facility. More here

  • Revised FAQs can be found here
  • Revised Appendix A can be found here
  • Under the new terms, all U.S. states will be able to have at least two cities or counties eligible to directly issue notes to the MLF regardless of population. Governors of each state will also be able to designate two issuers in their jurisdictions whose revenues are generally derived from operating government activities (such as public transit, airports, toll facilities, and utilities) to be eligible to directly use the facility.

June 1, 2020: NY Fed Publishes Municipal Liquidity Facility Sample Purchase Rates as of June 1, 2020.  More here

June 1, 2020: FEMA releases operational guide for 2020 hurricane season. Read the report here.

May 29, 2020: New FAQs on the Coronavirus Relief Fund (CRF) have been posted to Treasury's website. 

  • Guidance on eligible uses of Fund disbursements by governments is available here
  • Answers to frequently asked questions supplement Treasury's Coronavirus Relief Fund ("Fund") Guidance for State, Territorial, Local, and Tribal Governments, dated April 22, 2020, ("Guidance") can be found here
 
 

May 28, 2020: The MSRB filed a proposed rule change with the SEC to temporarily waive market activity fees for municipal market transactions related to the Federal Reserve’s Municipal Liquidity Facility (MLF).

  • Read the press release here.
  • Read the notice here.

May 27, 2020: Federal Reserve Bank of NY Publishes Municipal Liquidity Facility Sample Purchase Rates.  More here

May 26, 2020: MSRB Provides Resources for Municipal Bond Investors about Potential Effects of COVID-19. The notice is intended to highlight available MSRB resources for investors and to provide information on where to find COVID-19-related disclosures from issuers.  Read the Notice here

May 22, 2020: FEMA, HHS, and CDC Release Resource Tool for Officials to Track Coronavirus Data.  You can find more information here

May 18, 2020: New York Fed Releases Application Materials for the Municipal Liquidity Facility. You can find these documents here

May 14, 2020: New York Fed Releases Notice of Interest for the Municipal Liquidity Facility. Find the press release here.

May 13, 2020: SEC Public Statement: COVID-19 Market Monitoring Group — Update and Current Effort. More here

May 11, 2020: The Federal Reserve Board published updates to the term sheet for the Municipal Liquidity Facility (MLF) to provide pricing and other information. You can find more information here and below. 

May 4, 2020: The Treasury issued guidance providing immediate relief to issuers in certain circumstances:

  • Provides temporary guidance regarding the public approval requirement under § 147(f) of the Internal Revenue Code (Code) for tax-exempt qualified private activity bonds, available here.
  • Expands the temporary rule allowing governmental issuers to purchase certain of their own tax-exempt bonds, available here.

May 4, 2020: SEC Public Statement: The Importance of Disclosure for our Municipal Markets

SEC Chair Jay Clayton and OMS Director Rebecca Olsen today released a public statement entitled,The Importance of Disclosure for our Municipal Markets.

  • This statement is directed to issuers of municipal securities as well as investors and market participants more generally and is intended to parallel the Corporate Issuer Statement.
  • You can find the full statement regarding disclosures in the municipal market in light of the uncertainties from COVID-19, here.

May 4, 2020: Coronavirus Relief Fund Frequently Asked Questions Updated as of May 4, 2020.  View the updated FAQs here

 

Click the image below to view the April updates.

Click the image below to view the March updates.

NABL members are coming together on NABL Connect, an online members-only community, to post resources related to the COVID-19 pandemic and sharing how it’s impacting the public finance industry. Current discussions include: state-issued guidance on open meetings, EMMA filings, IRS payment moratoriums, and other practice impacts on the way bond lawyers are adapting to this changing business environment. Log into NABL Connect and share your insights on these and other topics valuable to NABL members.

How to log into NABL Connect 

1.) Click here to go to connect.nabl.org
Click the "Sign In" button on the top right of the page.  Use your NABL website (nabl.org) credentials to log in. After signing in, you will be redirected to NABL Connect. You must agree to the Terms of Use prior to entering the community for the first time.

2.) Go To Communities, select “My Communities” 
You will be in the General Membership Community (all members (excluding federal regulators) are included by virtue of their paid NABL membership).

3.) To add a discussion post or upload a document in the General Membership community, click on “Latest Discussion Posts" and “Latest Shared Files,” and there is a button that will allow you to contribute. 

Contact nablconnect@nabl.org if you need assistance. 

Letters and Information from our Industry Partners:

The U.S. Conference of Mayors Publishes "Mayors COVID-19 Fiscal Pain Tracker." Find it here.

GFOA publishes a collection of members' CRF spending plans. Find it here.

The National Governors Association publishes frequently-updated report on states' CRF spending allocation plans. Find it here.

  • To find an outline of local shares of CRF funds, click here.

NCSL publishes a running analysis of how states are utilizing their CRF allocations. Find it here.

NCSL publishes a frequently-updated "State Actions to Close Budget Shortfalls in Response to COVID-19." Find it here.

NACo has compiled a list of how counties are investing their CRF funds. Find the ongoing list here.

August 7, 2020: NLC Responds to HEALS Act Negotiations Stalling, Urges Congress and White House to Support Cities, Towns and Villages. Read the press release here.

August 5, 2020: The American Council on Education sends letter to Congressional leadership requesting direct aid and proposes initiatives to assist higher education institutions. Read the letter here.

August 5, 2020: Concluding his tenure as NGA's Chairman, Gov. Hogan Releases Federal Priorities To Promote Infrastructure As Economic Foundation. Find the list here.

August 5, 2020: NCSL’s ‘Relief and Revenue’ Facebook Series Highlights Need for Flexible Relief Funding. Find the video series and accompanying blog post here.

August 5, 2020: Mayors to President Trump: Cities Need Direct Financial Assistance Now. Read the letter from the U.S. Conference of Mayors here.

August 3, 2020: The American Council on Education sends letter to Congress to urge them to make public and private nonprofit colleges and universities eligible for the paid sick and family leave refundable tax credit. Find the letter here.

August 3, 2020: NLC publishes a rundown of how federal grant dollars, including CRF, are being awarded to municipalities. Find it here.

August 3, 2020: Seven organizations representing state and local governments issue a response to a recent report by Treasury about state expenditures from the Coronavirus Relief Fund (CRF). Read the letter here.

August 1, 2020: ICMA publishes survey showing the depth of economic downturn for cities and counties. Find it here.

July 29, 2020: The National Association of State Budget Officers publishes statement on Treasury's interim report. Find it here.

July 2020: NACo releases a legislative summary of the Senate COVID-19 relief package. Find it here.

July 29, 2020: NACo publishes a HEROES vs. HEALS Act analysis. See the chart here.

July 29, 2020: NGA releases statement on congressional coronavirus relief negotiations. Read it here.

July 28, 2020: NACo publishes press release on the effect of the new coronavirus relief proposal on urban areas. Read it here.

July 28, 2020: NCSL releases statement on latest coronavirus relief proposal. Find it here.

July 27, 2020: The U.S. Conference of Mayors addresses the Senate coronavirus relief proposal. Read it here.

July 27. 2020: NACo issues statement on Senate coronavirus relief proposal. Read here.

July 22, 2020: The American Council on Education sends letter to Senate leadership encouraging Congress to give careful consideration to ensure that any new initiatives in the next COVID-19 supplemental appropriations act are implemented effectively by the Department of Education. Read the letter here.

July 2020: The AHA publishes "The Effect of COVID-19 on Hospital Financial Health," an analysis performed with Kaufman Hall. Read it here.

July 21, 2020: NACo publishes an analysis of impact of COVID-19 on county finances. Read it here.

July 20, 2020: NCSL publishes "State Actions to Close Budget Shortfalls in Response to COVID-19." Find it here.

July 17 2020: Governors And Education Leaders Call For Funding And Flexibility To Ensure Student Safety In Fall. Read the letter here.

July 17, 2020: Industry groups, including NABL, send letter in support of LOCAL Infrastructure Act. Read here.

July 2, 2020: NACo publishes report detailing local government job losses as a result of COVID-19. Find it here.

July 1, 2020: NLC Statement on the Passage of the Moving Forward Act. Read here.

July 1, 2020: BDA sends letter to Senators Wicker and Stabenow on introduction of LOCAL Act. Read the letter here

July 1, 2020: BDA sends letter to House Leadership regarding the Move America Act.  Read the letter here.  

July 1, 2020: Public Clean Water Utilities Applaud Proposed Increase to Infrastructure Funding. Read the press release here.

 

June 2020: GFOA publishes "When Recovery Fails: State Intervention and Local Government Bankruptcy." Read it here.

June 30, 2020: Member organizations of the Public Finance Network write letter to Congressional leadership in strong support of the House’s Moving Forward Act. Read the letter here.

June 29, 2020: State and local coalition sends letter to Senate leadership to appeal for federal aid. Find the letter here.

June 25, 2020: The National Association of State Budget Officers publishes a Spring 2020 Fiscal Survey of States. Find it here.

June 2020: The American Society of Civil Engineers publishes their COVID-19 status report. Find it here.

June 24, 2020: AHA Comments on Proposed Main Street Lending Program For Nonprofits. Find the letter here.

June 24, 2020: AHA sends a letter on resetting the IMPACT Act in next COVID-19 relief package. Find the letter here.

June 23, 2020: NAST and GFOA send letter to Secretary Mnuchin and Chairman Powell responding to Federal Reserve actions regarding state and local government finances. Read the letter here.

June 23, 2020: NLC publishes a report on government budget cuts in response to COVID-19. Find it here.

  • Find a one-pager on the survey results here.

June 23, 2020: A coalition of mayors publishes 18 policy recommendations on infrastructure.

  • Find the press release here.
  • Find the recommendations here.

June 22, 2020: The American Hospital Association sends letter to Secretary Mnuchin and Chairman Powell with comments on the proposed main street lending facility for nonprofits. Read it here.

June 22, 2020: The American Council on Education sends letter on the proposed main street lending program for nonprofits. Read it here.

June 19, 2020: NCSL publishes state actions related to legislative operations. Find the report here.

June 17, 2020: NCSL releases state-by-state stimulus oversight plans. Find it here.

June 11, 2020: BDA to Join CDFA in Support of Industrial Development Bonds Legislation. Read the press release here.

June 9, 2020: NACo publishes an analysis of House's INVEST Act. Find it here.

June 5, 2020: Statement from NLC CEO Clarence E. Anthony on May Employment Numbers. Find the statement here.

June 3, 2020: NACWA publishes paper on funding and financing strategies to address coronavirus impacts. Find the report here.

June 3, 2020: NCSL releases FY 2021 state budget status. See the report here.

June 2, 2020: NACo sends letter to Senate Environment and Public Works Committee on its June 4, 2020 Infrastructure hearing. Read the letter here.

June 1, 2020: ICMA publishes letter from the Executive Director: The Difficult Road to Reopening. Read here.

June 1, 2020: National Governors Association Releases Guidance On Managing Natural Disasters During Pandemic. Read here.

NGA publishes COVID-19 State and Territory Action Tracker. More here.

The American Road and Transportation Builders Association publishes Highway Investment Benefits by State. Find the dashboard here.

NLC: What COVID-19 Means for City Finances. Find the report here.

GFOA's Fiscal First Aid Resource Center helps communities address the current financial problems associated with the pandemic. View more here

The United States Conference of Mayor's COVID-19 Fiscal Pain Tracker. View here.

NACo's Counties Matter: COVID-19 Web Page. Visit here.

NLC COVID-19 Local Action Tracker. Find it here.

GFOA Survey Respondents Project Over $23 Billion in Revenue Loss Due to Coronavirus. View the report here.

May 29, 2020: BDA releases infrastructure priorities for Congress. Read the letter here

May 28, 2020: NGA sends letter to President Trump requesting an extension of Title 32 authority during pandemic. Read the letter here.

May 22, 2020: The American Council on Education sends letter to Chairman Jerome Powell and Secretary Steven Mnuchin asking for support for creation of a new facility for nonprofits with the Main Street Lending Facility. Read the letter here.

May 22, 2020: NACo publishes "Measuring COVID-19's Impact on America's County Workforce." Read it here.

May 22, 2020: NACo sends letter to Congressional leadership urging bipartisan support and cooperation for a new round of direct, flexible aid for local governments of all sizes. Read the letter here.

May 20, 2020: With Millions Of Jobs At Stake, State And Local Government Associations Call On Congress To Approve Aid. Read the statement here.

May 20, 2020: The Center on Budget and Policy Priorities publishes "Projected State Shortfalls Grow as Economic Forecasts Worsen." Read the report here.

May 19, 2020: Development Finance Agencies Urge Congress to Include Bond Provisions in Stimulus. Find the press release here and letter here.

May 18, 2020: NLC releases report showing thirty-two states withholding federal funds from local governments. Find the report here.

May 18, 2020: NLC Statement on the Bipartisan SMART Fund. Read the statement here.

May 2020: AHA publishes "Hospitals and Health Systems Face Unprecedented Financial Pressures Due to COVID-19." Read here.

May 15, 2020: AHA submits letter to Federal Reserve, Treasury, and Comptroller of the Currency requesting prompt assistance for health care providers on the front line of COVID-19 pandemic. View the letter here

May 15, 2020: NACo Analysis for Counties: The HEROES Act. View the report here.

May 14, 2020: AHA submits comments on HEROES Act. Read here.

May 14, 2020: NLC releases brief of state revenue shortfalls. Find it here.

May 14, 2020: NACWA sends letter to Congressional Leadership. See here.

May 13, 2020: Governors Call On Congress To Act On State Fiscal Relief. Read the release here.

May 12, 2020: National League of Cities Responds to HEROES Act House Proposal. View the release here.

May 11, 2020: NAST, along with other industry leaders, sends letter to Congressional leadership requesting additional federal aid for state and local governments to compensate for lost revenues. Read the letter here.

May 11, 2020: APPA sends letter to the Fed regarding the MLF. Read the letter here.

May 7, 2020: NLC Releases Myths & Truths About Providing Federal Assistance to State and Local Governments. Find the document here

May 7, 2020: AHA publishes document entitled, Hospitals and Health Systems Face Unprecedented Financial Pressures Due to COVID-19. You can find it here

May 7, 2020: BDA submitted comments to both House and Senate leadership, calling for support of the municipal market. Find the letter here

May 7, 2020: ASA submits a letter to House Ways & Means leadership. Read here.

GFOA "Balancing the Budget in Bad Times." GFOA publishes "Balancing the Budget in Bad Times," one of a two-art series covering the decision-making environment for near-term treatments, a management system, and primary near-term treatments. Read here.

May 6, 2020: NFMA sends letter to MSRB on COVID-19 disclosures. Read here.

May 1, 2020: The American Public Works Association sent a letter to the Senate Environmental and Public Works Committee expressing support for two water infrastructure bills recently introduced in the Senate. Read the letter here.

Click the image below to view the April industry partner updates.

Click the image below to view the March industry partner updates.

National Governors Association COVID-19 resources page. Find it here.

U.S. Conference of Mayors COVID-19 resources page. Find it here.

National League of Cities COVID-19 resources page. Find it here.

CDFA COVID-19 resource page. Find it here.

GFOA COVID-19 resource page. Find it here.

Lumesis COVID-19 Disclosure Filings: Lumesis is making available continuing disclosure filings, made to the MSRB’s EMMA platform, related to COVID-19. This is a free service available here.

The Bond Buyer has a Coronavirus Impact Page. Available here.  

News Articles & Other Reports: 

August 10, 2020: Democrats deny outreach to Trump since talks collapsed. The Hill, here.

August 10, 2020: Trump’s Orders Can’t Replace Stimulus Checks, Unemployment Aid, And State And Local Funding. Forbes, here.

August 9, 2020: Pelosi, Mnuchin open door to narrower COVID-19 aid through 2020. Reuters, here.

August 8, 2020: Trump announces executive actions after stimulus talks break down. Politico, here.

August 7, 2020: How politics, personalities and price tags derailed Covid relief talks. Politico, here.

August 7, 2020: Stimulus talks break down on Capitol Hill as negotiators walk away without a deal. CNN, here.

August 7, 2020: Virus talks on brink of collapse, sides still 'far apart.' The Associated Press, here.

August 7, 2020: Pelosi, Schumer say White House declined $2T coronavirus deal.  The Hill, here

August 6, 2020: Sen. Warner 'optimistic' a COVID-19 relief package could come soon. WTKR News, here.

August 6, 2020: Denying federal aid to state, local governments could put neediest residents at risk. ABC News, here.

August 6, 2020: Coronavirus talks on life support as parties dig in, pass blame. The Hill, here.

August 6, 2020: Pessimism grows as coronavirus talks go down to the wire. The Hill, here.

August 6, 2020: Emboldened Pelosi takes hard line as relief talks drag on. Politico, here.

August 6, 2020: Capitol negotiators still stuck, still trying on virus aid. The Associated Press, here.

August 6, 2020: McConnell predicts coronavirus relief deal 'in the near future'. The Hill, here.

August 6, 2020: McConnell goes hands-off on coronavirus relief bill. The Hill, here.

August 6, 2020: Senators look to head home as coronavirus talks stall. Politico, here.

August 5, 2020: White House warns there's likely no deal with no agreement by Friday. The Hill, here.

August 5, 2020: Negotiators remain far apart on coronavirus deal as deadline looms. The Hill, here.

August 5, 2020: Republican senator presses reluctant GOP leadership for billions in state, local aid in next relief deal. NC Policy Watch, here.

August 4, 2020: White House eyes executive orders to upend virus negotiations. Politico, here.

August 4, 2020: Negotiators hit gas on coronavirus talks as frustration mounts. The Hill, here.

August 4, 2020: McConnell: ‘I’m Prepared To Support’ A Coronavirus Stimulus Bill That Includes $600 Unemployment Checks. Forbes, here.

August 4, 2020: The next stimulus should be a no-regrets infrastructure bill. Fortune, here.

August 3, 2020: The 5th Stimulus - $300 Billion In Infrastructure Is The Missing Link. Forbes, here.

August 3, 2020: Democratic leaders report 'some progress' in talks with White House. The Hill, here.

August 3, 2020: As nation grapples with crisis, McConnell and Schumer aren't negotiating -- with each other. CNN, here.

August 1, 2020: Frustration builds as negotiators struggle to reach COVID-19 deal. The Hill, here

July 30, 2020: If state and local governments continue to struggle, so will America. CNN, here.

July 30, 2020: Democrats reject short-term deal ahead of unemployment deadline. The Hill, here.

July 29, 2020: Treasury report: Less than 25% of state and local emergency funds used as congressional debate heats up. CNN, here.

July 29, 2020: GOP hunts for 'Plan B' as coronavirus talks hit wall. The Hill, here.

July 29, 2020: McConnell opens door to smaller coronavirus relief deal. The Hill, here.

July 29, 2020: GOP under mounting pressure to strike virus deal quickly. The Hill, here.

July 28, 2020: Republican senators revolt over coronavirus proposal. The Hill, here.

July 28. 2020: GOP's relief package hits wall in talks with Schumer, Pelosi. The Hill, here.

July 27, 2020: GOP rolls out $1 trillion coronavirus relief package. The Hill, here.

July 26, 2020: White House, Senate GOP race to finalize coronavirus package ahead of Monday rollout. The Hill, here.

July 26, 2020: Pelosi suggests House could stay in session longer to complete COVID-19 relief bill. The Hill, here.

July 23, 2020: Pelosi, Schumer: Emerging GOP coronavirus plan 'falls very short'. The Hill, here.

July 23, 2020: Senate GOP punts coronavirus package to next week. The Hill, here.

July 23, 2020: Senate still quiet as House moves forward on infrastructure. Politico, here.

July 23, 2020: Mnuchin says GOP has 'fundamental' deal on $1T coronavirus relief package. The Hill, here.

July 22, 2020: Republicans to start unveiling coronavirus package Thursday. The Hill, here.

July 21, 2020: Democrats poke GOP over coronavirus relief: Where's your bill? The Hill, here.

July 21, 2020: Democratic leaders want next coronavirus relief bill wrapped up by July 31. The Hill, here.

July 21, 2020: White House, Senate Republicans kick off crucial day of virus negotiations. Politico, here.

July 21, 2020: Pelosi, Schumer set for first meeting with WH team on new COVID-19 relief bill. The Hill, here.

July 20, 2020: Mnuchin: $1 trillion is GOP starting point for coronavirus talks. The Hill, here.

July 20, 2020: As Congress mulls more stimulus spending, local officials struggle with how to spend what they already have. CNN, here.

July 20, 2020: Schumer urges Democrats to unify against GOP coronavirus bill. The Hill, here.

July 19, 2020: Battle over Covid aid consumes Congress' final sprint to recess. Politico, here.

July 16, 2020: State, local coronavirus aid fight may hinge on school funds. Roll Call, here.

July 15, 2020: Pelosi and McConnell hurtling toward coronavirus relief showdown. Politico, here.

July 14, 2020: A bipartisan energy infrastructure bill is still possible. The Hill, here.

July 13, 2020: McConnell in talks with Mnuchin on next phase of coronavirus relief. The Hill, here.

July 13, 2020: U.S. muni market remains under watchful eye of Fed, official says. Reuters, here.

July 7, 2020: States Continue to Face Large Shortfalls Due to COVID-19 Effects. The Center on Budget and Policy Priorities, here.

July 6, 2020: FAQ Addresses Taxation of Coronavirus Relief Fund Payments. Tax Notes (subscription required) here.

July 6, 2020: McConnell predicts Congress will need fifth coronavirus bill. The Hill, here.

July 2, 2020: Congress stares down funding cliff for coronavirus aid. Politico, here.

July 1, 2020: COVID-19 Pandemic Could Slash 2020-21 State Revenues By $200 Billion.  Tax Policy Center, Urban Institute & Brookings Institution, here

July 1, 2020: U.S. House approves $1.5 trillion infrastructure bill but outlook uncertain. Reuters, here

June 30, 2020: McConnell eyes next coronavirus package after July recess. Politico, here.

June 29, 2020: Pelosi, Schumer urge McConnell to start coronavirus relief negotiations amid uptick in cases. The Hill, here.

June 29, 2020: White House threatens veto on Democrats' $1.5 trillion infrastructure plan. The Hill, here

June 29, 2020: House to bring up infrastructure bill this week. Politico, here.

June 26, 2020: Pelosi’s Infrastructure Bill Takes The Wrong Road On Tax Subsidies.  Forbes, here

June 24, 2020: Risks Rise for State and Local Budgets: COVID Stress Test Update. Moody's Analytics, here.

June 24, 2020: Report says state and local governments need billions in federal aid to avert 4 million layoffs. Portland Press Herald, here.

June 22, 2020: Democrats detail their $1.5T green infrastructure plan. The Hill, here.

June 19, 2020: Businesses ask Congress to bail out governments, sensing tax targets on their backs. Politico, here.

June 18, 2020: Bond Insurers Decry Revival of Federally Subsidized Entities’ Pitch. Tax Notes, here.

June 18, 2020: Report on economic impact of President Trump's infrastructure plan. The University of Pennsylvania, here.

June 18, 2020: House readies $1.5T 'infrastructure' plan including education, broadband, housing. Politico, here.

June 17, 2020: Trump's push for major infrastructure bill faces GOP opposition. The Hill, here.

June 11, 2020: Cassidy advises local officials to lobby Senate for coronavirus aid. The Bond Buyer (subscription required), here.

June 11, 2020: Hoyer: Infrastructure package to hit floor this month. The Hill, here.

June 11, 2020: Column: An apocalyptic collapse in state and local government employment is already upon us. Los Angeles Times, here.

June 10, 2020: Report on public service job losses in light of pandemic. Economic Policy Institute, here.

June 9, 2020: Report on fiscal impact of COVID-19. The Pew Charitable Trusts, here.

June 8, 2020: Republicans' big bet on the economy. Politico, here.

June 6, 2020: There ‘Definitely’ Will Be Another Stimulus Package, Trump Economic Adviser Says. Forbes, here.

June 3, 2020: Fed approves expansion of state and local support program. The Associated Press, here.

June 3, 2020: House Democrats propose $494 billion surface transportation bill. The Bond Buyer (subscription required), here.

June 3, 2020: Fed Expands Municipal-Lending Facility to More Localities. The Wall Street Journal (subscription required), here.

June 3, 2020: Coronavirus Stimulus Funds Are Largely Depleted After Nine Weeks. The Wall Street Journal (subscription required), here.

June 3, 2020: Democrats offer $494 billion transport bill targeting economy, climate. Roll Call, here.

June 1, 2020: Tax Policy Center at The Urban Institute and Brookings: COVID-19 And Government Actions Caused State Tax Revenues To Plunge In April. Find the report here.

May 29, 2020: McConnell Says Next Coronavirus Aid Bill Will Be The Last.  NPR, here

May 29, 2020: ‘A prolonged depression is virtually guaranteed without significant federal aid to state and local governments’. Market Watch, here.

May 28, 2020: What Role can Infrastructure Play in the COVID-19 Recovery Effort? Novogradac, here.

May 27, 2020: Democratic unity starts to crack in coronavirus liability reform fight. The Hill, here.

May 26, 2020: A ‘Flip The Switch’ Moment For Infrastructure. Forbes, here.

May 26, 2020: McConnell: Talking about fifth coronavirus bill 'in the next month or so'. The Hill, here

May 24, 2020: Five questions about the next COVID-19 relief package. The Hill, here.

May 22, 2020: An updated proposal for timely, responsive federal aid to state and local governments during the pandemic recession. The Upjohn Institute, here.

May 22, 2020: Federal bond insurance can help state and local governments recover. The Hill, here.

May 21, 2020: America’s Next Crisis Is Already Here. The Atlantic, here.

May 20, 2020: Cities Have Never Seen A Downturn Like This, And Things Will Only Get Worse. NPR, here.

May 20, 2020: GOP senators: More relief needed now. The Hill, here.

May 20, 2020: Cities and States Need Funding Help. It Won’t Come Cheap. Barron's, here.

May 19, 2020. Senators press Mnuchin, Powell over scope of coronavirus bailouts. The Hill, here.

May 19, 2020: Can The Municipal Bond Market Be A Key To Our Pandemic Recovery? Forbes, here

May 18, 2020: White House adviser says fourth stimulus package may not be necessary. The Hill, here.

May 15, 2020: House passes massive $3T coronavirus relief package. The Hill, here.

May 15, 2020: Hopes fade for coronavirus relief deal before June. The Hill, here.

May 13, 2020: Pelosi unveils $3T virus bill, warns inaction costs more. The Associated Press, here.

May 12, 2020: Pelosi unveils $3 trillion coronavirus relief plan amid squeeze from left and right. Politico, here.

May 12, 2020: House Democrats unveil $3 trillion coronavirus relief package. The Hill, here

May 12, 2020: Dems’ $3T new virus bill boosts state aid, essential workers. The Associated Press, here.

May 11, 2020: The 8 key provisions expected in Democrats' next COVID-19 bill. The Hill, here.

May 11, 2020: House punts return until Friday at the earliest. Politico, here.

May 11, 2020: McConnell brushes off Pelosi as she finalizes relief package. Politico, here.

May 10, 2020: White House considers more coronavirus aid as jobs picture worsens. Reuters, here.

May 8, 2020: Dems eye money for smaller cities, towns in next virus bill. The Associated Press, here.

May 7. 2020: Schumer, Pelosi set to unveil 'Rooseveltian' relief package. The Hill, here.

May 7, 2020: Pelosi to lay down multitrillion-dollar marker with new coronavirus package. Politico, here.

May 7, 2020: McConnell under mounting GOP pressure to boost state aid. The Hill, here.

May 7, 2020: Pelosi seeks to wrangle caucus behind next COVID bill.  The Hill, here

May 6, 2020: Senate hearing testimony of 37-year-old federal court nominee Justin Walker. CNN, here.

May 6, 2020: House hits gas, Senate pumps brakes on $2T more in relief. The Hill, here.

May 5, 2020: SEC: Investors Need Timely Information on Muni Bond Issues. Think Advisor, here.

May 4, 2020: Democrats aim to squeeze Republicans on next coronavirus relief package. Politico, here.

May 4, 2020: The 'new normal' takes shape on Capitol Hill. The Hill, here.

May 1, 2020: GOP divided over state aid during coronavirus pandemic.  The Hill, here

May 1, 2020: McConnell, McCarthy: Liability protections 'absolutely essential' for next coronavirus bill. The Hill, here.

April 30, 2020: Pelosi floats almost $1T for states in next relief package. The Hill, here.

April 29, 2020: State and local government aid plan coming from House Democrats, Neal says. Politico, here.

April 28, 2020: McConnell: Infrastructure will not be in next coronavirus relief bill. The Hill, here.

April 28, 2020: House reverses plan, will not return to Washington next week. The Hill, here

April 27, 2020: McConnell concedes aid to states and local government likely coming in future package. CNN, here.

April 27, 2020: McConnell dangles aid to states — with a catch. Politico, here.

April 27, 2020: McConnell: There will 'probably' be more state and local funding amid coronavirus pandemic. The Hill, here.

April 27, 2020: Trump asks why taxpayers should help bail out blue states. The Hill, here

April 27, 2020: House & Senate to return to DC on Monday, May 4, 2020.  The HIll, here

April 27, 2020: Five fights for Congress's fifth coronavirus bill. The Hill, here.

April 26, 2020: McConnell, Democrats feud over state aid amid coronavirus. The Hill, here.

April 24, 2020: Trump signs $484 billion coronavirus relief package. The Hill, here

April 24, 2020: Republicans sharply divided over timeline for reopening economy. The Hill, here.

April 23, 2020: Fed municipal rescue won't avert fiscal nightmare, so states eye Congress. Politico, here.

April 23, 2020: House passes $484B coronavirus relief package.  The Hill, here

April 23, 2020: 5 things to know about the latest coronavirus relief bill. The Hill, here

April 22, 2020: As 4th virus relief bill nears passage, fight looms over 5th. Associated Press, here.

April 22, 2020: Battle heats up for phase-four coronavirus relief bill. The Hill, here.

April 22, 2020: Senate passes $484B coronavirus relief package.  The Hill, here

April 21, 2020: White House, Congress reach deal to replenish small business loan program. The Hill, here

April 21, 2020: Schumer predicts Senate passage of relief bill Tuesday. The Hill, here.

April 20, 2020: What the CARES Act Means for Credit in US Public Finance. S&P Global Ratings, here

April 20, 2020: Senate sets up Tuesday session to try to pass coronavirus relief deal.  The Hill, here

April 19, 2020: Congress, Trump administration close to deal on new aid package. Politico, here.

April 19, 2020: House prepares to vote on coronavirus aid package as soon as Wednesday.  The Hill, here

April 19, 2020: Treasury secretary, Democratic leaders 'hopeful' for agreement on coronavirus package.  The Hill, here

April 17, 2020: White House Unveils Guidelines for States and Counties to Begin Reopening. The Hill, here

April 17, 2020: Senate misses deadline, but talks on loans go on. The Hill, here

April 16, 2020: Senate adjourns with no deal on small business loan program. The Hill, here.

April 15, 2020: Democrats try to force McConnell's hand on coronavirus aid. The Hill, here.

April 15, 2020: Unparalleled crisis leads to unprecedented federal spending.  The Hill, here

April 14, 2020: Aides expect Schumer, Mnuchin to reach deal on coronavirus relief. The Hill, here.

April 10, 2020: New round of stimulus talks face GOP roadblock. The Hill, here.

April 9, 2020: Democrats ramp up talks with Mnuchin on next COVID-19 relief deal. The Hill, here.

April 9, 2020: Senate Democrats unveil $500 billion short-term coronavirus relief plan. The Hill, here

April 9, 2020: Federal Reserve unveils details of $2.3 trillion in programs to help support the economy. CNBC, here

April 8, 2020: Democrats support another $250 million for hospitals, governments. The Bond Buyer, here

April 8, 2020: Senate will vote to pass more small business aid Thursday, McConnell says.  CNBC, here

April 4, 2020: Pelosi eyes end of April to bring a fourth coronavirus relief bill to the floor. The Hill, here

April 3, 2020: Consensus starts to grow on 'Phase 4' coronavirus relief. Politico, here.

April 3, 2020: McConnell says there will be a fourth coronavirus bill. The Hill, here

April 2, 2020: Democrats' climate-focused infrastructure pitch already running against headwinds. Politico, here.

April 1, 2020: As the Fed steps into the municipal bond market, will it be enough? MarketWatch, here

April 1, 2020: Treasury Secretary Mnuchin says he’s having ongoing discussions about infrastructure. CNBC, here

April 2020: Monthly State Revenue Highlights: State Tax Revenues Plunged in April 2020 Because of COVID-19 Pandemic and Delays in Income Tax Deadlines. Urban Institute, here.

March 31, 2020: Trump backs infrastructure bill as next phase of coronavirus relief. The Hill, here