Here are the best tweets with the #muniland hashtag for June 26, 2014:
The national account to fund America’s highway construction and other transportation is nearly empty. The revenues that go into the Highway Trust Fund, which come from a federal 18.4 cent per gallon tax on gasoline, are expected to dip below $4 billion in July. Congress has transferred monies from the general fund in four of the past five years (the yellow stars above) into the Highway Trust to make up for the shortfall from the fuel tax.
Starbucks recently announced that it will make it possible for thousands of its part- and full-time U.S. employees to complete a college degree online at Arizona State University. Starbucks says that this is a unique collaboration that allows employees to finish their bachelor’s degrees with full tuition reimbursement. ASU has a successful online education program.
Puerto Rico’s faltering electricity monopoly PREPA received another blow this week when Standard & Poor’s downgraded the public corporation’s $8.8 billion of revenue debt to BBB- (5.5) from BBB (6) and placed the rating on CreditWatch with negative implications. This leaves PREPA one small step from junk grade in the three major raters.