Far West

A bipartisan Senate package to revive dozens of expiring or expired tax breaks, including several muni provisions, would cost $205.1 billion over 10 years, according to an analysis from the Joint Committee on Taxation.

John Cross, the associate tax legislative counsel in the Treasury's Office of Tax Policy, is to become director of the SEC's new Office of Municipal Securities in September.

MSRB has sent a two-page letter to nine organizations requesting a meeting.

A diverse group of municipal market participants has criticized the Municipal Securities Rulemaking Board's recent concept release related to third-party payments.

The recent bankruptcy filings of Stockton and San Bernardino share a common element — both troubled California cities target pension obligations bondholders for sizable haircuts.

The Securities and Exchange Commission has named John J. Cross, 3rd, the head of its Office of Municipal Securities.

California has confirmed the state is set to sell $10 billion of revenue anticipation notes during the week of Aug. 13.

States' tax collections grew by 4.7% for the ninth straight quarter in the first three months of 2012 and are now above pre-recession levels, a new Rockefeller Institute on Government report shows.

Two former Lynwood, Calif., council members have been convicted of corruption for alleged illegal use of public funds.

Standard & Poor's said in a report Wednesday it has assigned an SP-1-plus rating to California's $10 billion revenue anticipation note sale scheduled for the week of Aug. 13.