Far West

Congress is facing a big challenge in 2015 in reaching agreement on how to pay for transportation infrastructure spending.

Short-term extensions of federal transportation spending are likely to continue through 2015 as lawmakers struggle with a gasoline tax that can't pay the bills.

Credit rating agencies have made strides in implementing mandatory reforms, the SEC said in recent reports that found the raters also need to improve in several areas, including the way they handle conflicts of interest.

Washington's Performance Management Program has saved the state millions of dollars, according to a report from Gov. Jay Inslee's office.

2015 will bring a new Congress, with Republican majorities in both the House and the Senate and two new chairmen of the tax-writing committees.

Tax reform, particularly corporate tax reform, is likely to be on the agenda in 2015, congressional observers said.

Market participants discuss the outlook for tax regulation in 2015.

The Treasury Department and Internal Revenue Service next year will be working on further guidance on issue price, regulations finalizing other proposed arbitrage rules, and additional rulemaking projects.

Moody's Investors Service has rated Oregon's upcoming issue of $412 million of lottery revenue bonds Aa2. The bonds for capital projects around the state are expected to price Jan. 8.

State and local governments are the underdogs in influence peddling in Congress mostly because they spend little to nothing on lobbyists, in contrast to the millions of dollars spent by the big securities, banking and investment groups.