Kyle Glazier

Personal income rose $85.8 billion or 0.6% in November following a revised 0.1% increase in October, while personal spending climbed $41.3 billion or 0.4%, the Commerce Department reported Friday.

Federal and transit agency officials made their case for federal aid to rebuild in the aftermath of Superstorm Sandy, telling a Senate panel they will need it to help pay debt service on new muni debt.

Existing home sales rose 5.9% to a seasonally adjusted 5.04 million-unit rate in November, following a revised 4.76 million rate in October, the National Association of Realtors announced Thursday.

Airports, ports, and unregulated power companies are at risk due to the impending fiscal cliff, while toll roads and public power utilities are insulated from the worst danger, according to a Moody's Investors Service report released Wednesday.

Gov. Bob McDonnell informed the U.S. Department of Health and Human Services that Virginia will not be pursuing a state-based health benefits exchange for 2014.

A bill that would have authorized the Virginia Public Building Authority to issue an additional $300 million in bonds for wastewater treatment facilities died in committee.

Housing starts fell 3% to a seasonally adjusted annual rate of 861,000 in November from a revised estimate of 888,000 in October, the Commerce Department reported Wednesday.

The U.S. current account deficit fell to $107.5 billion in the third quarter of 2012, the Commerce Department reported Tuesday.

The Los Angeles County Metropolitan Transportation Authority is at the forefront of a nationwide push to create a new tax-credit bond program for transportation investment.

Virginia Gov. Bob McDonnell unveiled his proposed amendments to Virginia's 2012-2014 budget, an $86 billion two-year plan he said prepares Virginia for the fiscal cliff by increasing cash reserves and flexibility and puts transportation revenue on a firmer footing.

The corridor between Washington, D.C. and Boston is ripe for public-private partnership rail development if the government gets behind it, according to testimony given before the House Committee on Transportation and Infrastructure Thursday.

The findings of the State Budget Crisis Task Force show that Virginia is in a stronger fiscal position than other large states, but still must begin making changes to close persistent funding shorfalls.

A lawsuit challenging the legality of the Dulles Rail project's toll-powered funding mechanism will have to head to yet another venue after the federal court weighing the case decided it did not have jurisdiction to rule on the matter.

Retail sales rose 0.3% to $412.4 billion in November after dropping an unrevised 0.3% in October, the Commerce Department reported Thursday.

The transportation infrastructure sector is expected to be stable across the board in 2013 despite fiscal cliff pressures and long-term funding concerns, according to Fitch Ratings.

A majority of the Federal Open Market Committee continues to view 2015 as the appropriate time to tighten monetary policy, and believes the country will be well on the road to recovery by then, according to the Fed's latest summary of economic projections released Wednesday.

The federal government ran a $172.1 billion budget deficit in November after running $119.9 billion in the red the previous month, the Treasury Department reported Wednesday.

The Fed will purchase longer-term treasuries at a rate of $45 billion per month at the conclusion of Operation Twist this month, the Federal Open Market Committee said in a statement released Wednesday following the FOMC's two-day meeting.

Pension funding bonds are more likely to hurt, rather than help, the credit of the state or local government issuing them, according to a report from Moody's Investors Service.

Sales of merchant wholesalers fell 1.2% to $408.5 billion in October after rising a revised 1.9% in September, originally stated as a 2% advance, the Commerce Department reported Tuesday.