Far West

Two House Republicans presented a committee with their legislative proposals to reform or abolish the federal income tax system, sparking concerns from some members of the municipal bond community.

First Winston Securities, Alton Securities Group, and MidAmerica Financial Services were ordered to pay a total of $115,000 in fines and restitution by the Financial Industry Regulatory Authority for violation of municipal securities rules.

San Francisco-based Dignity Health had its outlook revised to negative from stable by Standard & Poor's, which cited a decline in financial performance.

House Republican leaders plan to hold a policy meeting Friday morning with their members on pending legislation for Puerto Rico to try to gain more support for it.

The long-stalled bipartisan energy modernization bill is expected to move forward in the Senate without an amendment that would have provided Flint, Mich. with $220 million to address its ongoing water crisis.

Members of a House panel rebuffed a request from WMATA for $300 million per year of additional federal funding.

In parallel actions on Thursday, the Securities and Exchange Commission and the U.S. district attorney for the Southern District of New York filed civil and criminal charges against Ramapo, N.Y., officials for misleading investors in connection with bonds issued to finance a minor league baseball stadium.

As Orange County, Calif., approaches the end of debt service payments related to its 1994 bankruptcy, it is lining up its first long term debt sale in a decade.

Upgrading San Francisco’s vulnerable northern seawall to protect against earthquakes and rising sea level could cost $5 billion.

The National Association of Bond Lawyers is calling for the Internal Revenue Service and Treasury Department to revise and re-propose rules that would determine when entities are political subdivisions that can issue tax-exempt bonds.