Far West

Standard & Poor’s downgraded Alaska Tuesday, to AA-plus from AAA, citing persistent low oil prices that have reduced the state government’s revenues.

Most states will be able to issue more private-activity bonds in 2016.

Infrastructure funding and municipal revenue could be on the chopping block when Washington state lawmakers convene.

New tolled express lane west of Denver is meeting early expectations for congestion relief within the I-70 corridor.

"I think it is a concern of many of [GFOA's] members that the MCDC initiative will be used to generate a large number of instances of issuer violations of the continuing disclosure agreements and obligations … and that the violations will be grouped and presented to Congress and SEC commissioners as the basis for organizing some kind of one-size-fits-all regulatory scheme to impose further regulation on issuers," said Dustin McDonald, GFOA federal liaison center director.

Municipal market groups are ready to band together in 2016 to show the Securities and Exchange Commission that they can improve disclosure practices without increased regulation, even as the commission is set to continue publishing settlements with underwriters and issuers who have failed to comply with their continuing disclosure obligations.

Orange County, Calif. received a rating boost, as Standard & Poor's upgraded its issuer credit rating one notch to AA-plus from AA.

Desert Hot Springs, Calif., a Palm Springs suburb that has flirted with bankruptcy, received an improved stable outlook from Standard & Poor’s.

Hawaii Gov. David Ige's $13 billion supplemental budget proposes increasing general obligation bond issuance by $891.8 million in fiscal 2017 to support $1.8 billion in capital projects.

Congress will not act on comprehensive tax reform next year, but House Republicans could try to move forward with international or corporate tax reform, according to tax experts.