State infrastructure banks (SIBs) are state-run revolving loan funds that offer financial assistance for transportation projects mainly through low-interest loans. This study examines the role of SIBs in transportation finance by investigating the extent to which SIBs provide lower cost...

States with income taxes frequently exempt municipal bond interest from state taxation. Such exemptions, referred to as double exempts, are tax expenditures that reduce state revenues, but are viewed as a subsidy to the cost of capital for the state and its localities. All but a few states...