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Obama Preparing to Offer Revised Transportation Plan
President Obama plans to propose a revised version of last year's $302 billion, 4-year transportation bill.
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The Federal Reserve Board’s decision to delay certain aspects of the Volcker Rule are a plus for the municipal market, a major rating agency and a dealer group said.  more »
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Two former Allen Park, Mich. officials have settled a Securities and Exchange Commission lawsuit against them by agreeing to be barred from involvement in any future municipal bond offerings, and ex-Mayor Gary Burtka agreed to pay a $10,000 civil penalty, according to court documents filed Wednesday.  more »
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State and local governments of all sizes are using direct bank loans as an alternative to traditional bond financing, Standard & Poor's said Wednesday, renewing its call for more transparency surrounding bank debt.  more »
The Internal Revenue Service's interim guidance on how certain accountable care organizations can be structured to avoid resulting in private business use is limited in its scope, the National Association of Bond Lawyers and the American Hospital Association said.  more »

The Commonwealth of Puerto Rico has a long history of fiscal uncertainty and structural deficits. Responding to decades of general fund deficits in 2014, the rating services lowered the ratings on the Commonwealth’s general obligation credit to below investment grade, or junk status.

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