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Brandon Johnson released his $16.6 billion 2026 budget last week. The budget calls for new revenue sources, but avoids property tax hikes.
Prior to Dimensional's approval, only Vanguard held a patent to the ETF-as-a-share-class structure, but the patent expired in 2023.
The first part of exclusive research from The Bond Buyer finds that most industry optimists say funding needs will be met sometime after 2035.
Yakym praised the successful effort to preserve the tax exemption throughout One Big Beautiful Bill negotiations and encouraged market advocates to keep lobbying lawmakers.
Demand may strengthen as "investors anticipate the Federal Reserve's likely path of rate cuts, which would drive yields even lower," said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.
"It shows the chairman's understanding of the practical realities of firms...," Peter Chan, a partner at Baker McKenzie said.