Oklahoma governor calls special session to push zero state income tax

Oklahoma lawmakers will meet in a special session next month called by Gov. Kevin Stitt, who wants to put the state on a path to zero income taxes and proposed a separate “trigger law” stemming from a lawsuit challenging the state's future ability to tax many Native Americans.??

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Vikram Rai has landed at Wells Fargo, where will join the municipal credit strategy team as senior strategist. The firm confirmed that Rai joined Wells on Monday. He will report to Matt Rosenberg and Chris Lee, co-heads of sales and trading. The move comes after Rai was let go by Citi in June after nearly 16 years.

Nominations are open for The Bond Buyer’s 2023 Deal of the Year awards.?

Cities across the country can participate in class-action claims against a group of Wall Street banks accused of rigging interest rates on local variable-rate bonds during a nearly eight-year period, a federal judge ruled Thursday.???

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The Secure and Fair Enforcement Regulation Banking Act, a bipartisan bill introduced last week that would give communities and small cannabis businesses access to financial institutions, has a strong chance of passing and has already garnered the support of local government groups. If it becomes law, the bill could be part of a series of changes that impacts state collection of marijuana tax revenue.

Check out our most recent Rising Stars and the second class of Muni Hall of Famers.

Bob Menendez, the New Jersey senator indicted last week on federal bribery charges, has already stepped aside as chairman of the powerful Foreign Relations Committee, but his influence on financial legislation could continue as the case unfolds. He has a long history of activity in issues affecting the public finance community.

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Municipal bond prices weakened again Monday as the market looked ahead to a $6.3 billion slate of sales led by two big deals from issuers in Texas and Florida. Yields rose Monday by as many as 12 basis points. As interest rates continued to spike and liquidity remained suspect, investors hunkered down on the sidelines, according to John Farawell, managing director of underwriting at Roosevelt & Cross.

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