Richard Ravitch Public Finance Initiative
Richard Ravitch Public Finance Initiative
The Richard Ravitch Public Finance Initiative seeks to catalyze federal action to improve state and local budget practices that present looming risks to the federal system and economy.
The Richard Ravitch Public Finance Initiative is inspired by the late Mr. Ravitch’s profound and indelible contributions to public service, and informed by his unmatched public finance expertise. This initiative will continue to uphold his tremendous legacy and unparalleled commitment to sound budgeting, transparent financing, and fiscal sustainability.
Resilient State and Local Finance
The focus of the second Richard Ravitch Public Finance Initiative Symposium was on lessons and opportunities coming out of the pandemic years. This report summarizes and expands on key themes that emerged through the Symposium’s discussions.
Fall 2024 Symposium
The Volcker Alliance hosted an invite-only symposium on September 17, 2024 in Washington, DC, the second in-person convening for the Richard Ravitch Public Finance Initiative. The symposium brought together leaders in the field of budgeting and public finance, as well as federal, state, and local government representatives. The symposium focused on strengthening the fiscal relationship between the various levels of government, with a specific lens towards capacity building, innovative financing, and improving budgetary policies.
This event was held in partnership with the Pew Charitable Trusts.
RRPFI Interview Program
In the months leading up to the Richard Ravitch Public Finance Fall 2024 Symposium, SKDK and the Volcker Alliance conducted roughly 20 interviews with federal, state, and local policymakers and stakeholders. These interviews were conducted in an effort to obtain various perspectives and recommendations on improving the relationship between the federal government and states and localities regarding federal funding and grants. The insights and takeaways gleaned from these interviews were used to form the basis for keynotes, panels, and workshops at the Fall 2024 symposium.
This process was conducted in partnership with SKDK.
Issue Paper: Sustainable State and Local Budgeting and Borrowing
To anchor the Richard Ravitch Public Finance Initiative's efforts to prevent and ameliorate state and local fiscal crises, the Volcker Alliance commissioned an issue paper to frame key issues in a historical context.
Launch Symposium
To officially launch the initiative, the Volcker Alliance hosted an invite-only symposium on January 12, 2023 in Washington, DC. The symposium brought together members of Congress, senior Treasury and Federal Reserve officials, state and local leaders, public finance experts, and municipal market participants to identify pressing state and local finance risks, and explore feasible, federally-driven policy solutions.
This event was held in partnership with Milken Institute, National Academy of Public Administration, Penn Institute for Urban Research, and the Pew Charitable Trusts.
The Richard Ravitch Public Finance Initiative is made possible with generous support from the late Volcker Alliance Director Richard Ravitch and the Volcker Family Foundation.
