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Treasury Creating Office of State and Local Finance
A new office at the U.S. Treasury Department will focus on state and local finance issues, including distressed municipalities and their management of pensions and other liabilities.
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The Joint Committee on Taxation this week released its estimates of the budget effects of the revenue proposals in President Obama's fiscal 2015 budget, including those related to municipal bonds. more »
Standard & Poor's has launched a web application that allows users to create rating scenarios for local governments based on the agency's actual methodology. more »
The Government Accounting Standards Board on Monday released a concepts statement that will guide it in establishing accounting and reporting standards for state and local governments regarding the measurement of assets and liabilities. more »
Pension risks for state and local governments will continue to be higher than those for corporations, Moody's Investors Service said in a report Thursday. more »
The District of Columbia's new chief financial officer will likely oversee the issuance of more than $1 billion of bonds in fiscal 2015 and hopes to develop a plan that assesses D.C.'s capital challenges and how best to meet them over the long term. more »
Sacramento, Calif. Mayor Kevin Johnson will become the new president of the U.S. Conference of Mayors when he is sworn in April 16, the group announced Thursday. more »
Market participants believe Detroit's settlement with three bond insurers Wednesday is a breakthrough in the city's bankruptcy proceedings, even though it is not final and leaves many questions unanswered. more »
Rep. Chris Van Hollen, D-Md., unveiled a Democratic fiscal 2015 budget resolution that would end sequestration and support President Obama's $302 billion four-year transportation reauthorization proposal as well as $10 billion to establish an infrastructure bank more »
States that pull back on their cost-cutting measures in response to improving economic conditions could harm their credit, but local governments are in good shape thanks to a housing market recovery, according to a new report from Standard & Poor's. more »
While there is wide agreement Northeast infrastructure is rotting, there is nowhere near the same consensus about what to do and how to pay for it. more »
Municipal market participants should be concerned about the House Republican fiscal 2015 budget plan unveiled by Rep. Paul Ryan on Tuesday because it calls for substantially lowering the individual and corporate tax rates, which would put at risk many tax expenditures such as the tax exemption for municipal bonds, several muni experts said. more »
A new study projects that Puerto Rico could receive billions of additional federal dollars if it became a state, information that some observers said could inject new life into the statehood debate on the financially troubled island. more »
The Governmental Accounting Standards Board unanimously voted not to delay the implementation of new reporting requirements for governments that provide their employees with pensions, after the Government Finance Officers Association and other groups pressed for a postponement. more »
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New York's budget leaves it at risk of becoming one of only five states that do not allow the use of design-build procurement to deliver public infrastructure projects.

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