HilltopTalks: Politics & Finance with Tom Kozlik

About HilltopTalks: Politics & Finance with Tom Kozlik

Tom Kozlik, Head of Municipal Research & Analytics at HilltopSecurities, hosts conversations with industry leaders that intersect the world of politics and finance. Join us as we explore relevant topics that impact the municipal market. With nearly two decades of experience in the fixed income industry, Kozlik is a nationally recognized strategist who brings unique insight and perspectives to his commentary and analysis of municipal market trends, opportunities and challenges. In 2020, Smith’s Research and Gradings included him on the first team in the generalist category of its Municipal All-Star Team for the third consecutive year. He was voted to Institutional Investor’s All-America Fixed Income Research Team and Greenwich Associates named him one of the Most Helpful Analysts in Municipal Bonds in 2015. In addition, Kozlik has taught graduate-level public finance courses at the University of Pennsylvania’s Fels Institute of Government, where he earned a Master's of Government Administration. This commentary was prepared by Hilltop Securities. It is intended for informational purposes only and does not constitute legal or investment advice, nor is it an offer or a solicitation of an offer to buy or sell any investment or other specific product. Information provided was obtained from sources that are believed to be reliable; however, it is not guaranteed to be correct, complete, or current, and is not intended to imply or establish standards of care applicable to any attorney or advisor in any particular circumstance. The statements within constitute the views of HTS as of the date of the episode and may differ from the views of other divisions/departments or affiliates of Hilltop Securities Inc. In addition, the views are subject to change without notice. Hilltop Securities Inc. is a registered broker-dealer, registered investment adviser and municipal advisor firm that does not provide tax or legal advice. HTS is a wholly owned subsidiary of Hilltop Holdings, Inc. (NYSE: HTH) located at 717 N. Harwood St., Suite 3400, Dallas, Texas 75201, (214) 859-1800, 833-4HILLTOP. © 2024 Hilltop Securities Inc. | All rights reserved | MEMBER: NYSE/FINRA/SIPC

Publisher

HilltopSecurities

Category

business · business

Language

en

Explicit

No

First episode

7 Sept 2021

Latest episode

16 Sept 2026

Latest episodes

41 episodes in the feed.

1. 

   16 Sept 2026

   41. U.S. Federal Debt and the Rising Cost of Financing America

   With federal debt surpassing $40 trillion and debt held by the public reaching 100% of GDP, how did the U.S. arrive at this point, and what are the implications for taxpayers, investors, and policymakers? In this episode of Hilltop Talks, HilltopSecurities’ Tom Kozlik sits down with Marc Goldwein, Senior Vice President and Senior Policy Director at the Committee for a Responsible Federal Budget, to discuss the nation's fiscal outlook and the growing cost of financing America's future. Key questions discussed: • How do rising deficits and debt affect inflation, interest rates, and economic growth? • What risks are associated with a potential federal debt spiral? • Why are Social Security and Medicare financing challenges becoming more urgent? • What policy options could put the nation's fiscal trajectory on a more sustainable path?

2. 

   8 Jul 2026

   40. Not Your Typical Muni, Inside Energy Prepay Bonds

   Energy prepay bonds have become one of the fastest-growing sectors in the municipal market. In this episode of Hilltop Talks, Tom Kozlik sits down with CreditSights' Patrick Luby to break down how these unique financings work, why issuance has surged in recent years, and what investors need to understand about their structure, risks, ratings, and portfolio implications. Key questions discussed: What are energy prepay bonds and how do they work? Why has energy prepay bond issuance increased so significantly in recent years? How are these transactions structured and how do cash flows move through the deal? What makes these bonds different from traditional municipal utility bonds? Tune in for valuable insights on a rapidly evolving corner of the muni market and the role energy prepays are playing in today's energy and public finance landscape.

3. 

   17 Jun 2026

   The Cost of Powering the Future: Public Power, Data Centers, and the Strain on the Grid

   In the latest Hilltop Talks episode, Tom Kozlik speaks with Rachel Cortez from Moody’s Ratings about the growing strain on U.S. power systems and the rising costs of electricity. Their discussion highlights how increasing demand—driven by data centers, electrification, and economic growth—combined with policy and infrastructure challenges, is reshaping the energy landscape. Both public and investor-owned utilities are facing mounting costs, political pressure, and regulatory scrutiny, suggesting that higher electricity bills and ongoing infrastructure investment will remain a reality for years to come. In this episode: ·         The impact of data centers and AI on rising U.S. electricity costs ·         Key drivers of increased demand and how electricity rates are determined ·         How utilities are managing rapid growth in data center energy needs ·         The role of carbon transition and net-zero policies in shaping electricity bills ·         How data centers are influencing renewable energy goals and timelines ·         Emerging technologies that could help address energy and affordability challenges ·         Differences in impact between investor-owned utilities (IOUs) and public power providers

Reach and audience

Public platform figures. Ratings count people who left a rating, not total listeners.

Apple Podcasts (US)

5.0 / 5

8 ratings

Podcast Authority Score: 47 / 100

A composite of feed quality, social presence, YouTube performance and engagement. Read the methodology.

Quality

69

Social presence

0

YouTube

0

Engagement

60

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Guest appearances

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Based on episode analysis; this does not confirm that the show is currently accepting guests.