Waiting for Multi-Year Legislation
WASHINGTON — For cash-strapped state and local governments that have critical transportation infrastructure needs, but no money to pay for them, the coming year will be bittersweet.
Governments Facing Slower Recovery and Lower Ratings
WASHINGTON — The economy is improving at the national level but state and local governments face further revenue declines and dismal financial conditions that pose a risk of lowered credit ratings, market participants warned in their outlooks for this year.
Expect More P3s on the Menu Next Year
WASHINGTON — The coming year could be fertile ground for public-private partnerships, especially in the transportation sector, but states and localities probably will have to go without federal help and enter deals cautiously so as not to kill public support for them, market sources say.
Reg Reform, SEC Top Agenda
WASHINGTON — Next year will bring significant changes in the municipal securities market if Congress passes sweeping financial regulatory reform in what would be the biggest overhaul of financial regulation since the Great Depression.
Beefed-Up IRS Is Ready to Roll
WASHINGTON — The Internal Revenue Service’s tax-exempt bond office plans to move full-speed ahead in 2010, now that it has cleared some administrative hurdles in incorporating large new stimulus programs into its workload and put to work newly trained hires that have nearly doubled the size of the TEB unit.
Muni Yields Seen Rising in Year Ahead
WASHINGTON — The economy will continue to grow next year, municipal bond yields will rise — though not as much as Treasury yields — and the threat of inflation will remain low, according to most economists and market participants.
CDR Case Likely a Major Focus in 2010
WASHINGTON — Now that the first shoe has dropped in the Justice Department's criminal investigation of alleged anti-competitive activities in the municipal derivatives and investment markets, what comes next in 2010?
Push to Expand ARRA
WASHINGTON — Municipal market participants want Congress to provide more assistance for muni bonds next year by extending or expanding many of the bond-related provisions in the American Recovery and Reinvestment Act, especially those authorizing the Build America Bond program.
