Far West

A Congressional Research Service analysis suggests there are impediments to broadening the tax base by eliminating or reducing tax expenditures - such as tax-exemption for municipal bond interest - because they are viewed as "serving an important purpose" and are "quite popular" with the public.

SAN FRANCISCO — Wenatchee, Wash., and a local public facilities district hope to sell bonds to resolve a $42 million default on notes used to fund a public arena.

LOS ANGELES — After six years laying groundwork, a project to construct a new $715 million Otay Mesa Port of Entry and a connecting highway at the Mexican border in San Diego appears to be moving forward.

Three bills are moving through the California Legislature that attempt to clean up the process of unwinding the state's redevelopment agencies.

WASHINGTON — The Internal Revenue Service is seeking comment from the public and federal government agencies on the guidance it issued for provisions in the Housing Assistance Tax Act of 2008, which provided additional volume cap for tax-exempt housing bonds.

State and local tax revenues in the fourth quarter of 2011 grew by 2.1% from a year earlier, marking the ninth consecutive quarter of positive year-over-year growth, the Census Bureau said in a report issued Thursday.

Analysts are still weighing the impact a decision by the California Public Employees' Retirement System to lower its investment assumptions will have on local governments.

WASHINGTON — Transportation, water and energy infrastructure projects are most attractive for investment by public-private partnerships in the United States, according to a survey of construction company and engineering firm executives.

SAN FRANCISCO — Stockton, Calif., said it will negotiate with 18 creditors that have interests above $5 million during mediation meant to help the city restructure its debts to avoid bankruptcy.

Washington state lawmakers still haven’t come up with a budget to close a $1 billion deficit after a special session that lasted more than a week.