Far West

Former New York Lieut. Gov. Richard Ravitch and former Federal Reserve chairman Paul Volcker are forming a task force to analyze states' budgets with the goal of helping governments put in place stronger, long-term budget practices.

WASHINGTON — Broker-dealers criticized a proposed Municipal Securities Rulemaking Board rule, saying it would subject them to tougher rules than those that apply to municipal advisers who practice on their own or in independent firms.

SAN FRANCISCO — San Francisco International Airport will sell $323 million of debt this week to refund outstanding revenue bonds in a revival of a deal it had shelved last year.

Congressional Democrats on Friday called for limits on tax deductions as a way to reduce the deficit and also pushed for the Build America Bond program to be reinstated.

A key Republican lawmaker criticized the floating net-asset value for money market funds Friday, citing the toll such a shift would have on state and local governments.

Hawaii Gov. Neil Abercrombie signed a $21.9 billion, two-year budget into law Thursday that addresses rising debt-service costs and a bond-financing mistake.

WASHINGTON — State and local governments will face higher debt-issuance costs if regulators require money market funds to move to floating net-asset values, issuer groups warned Thursday.

WASHINGTON - The Center for American Progress says any debt-limit agreement should contain expenditure cuts, including eliminating tax-exemption for private-activity bonds and making other new munis direct-pay bonds with a 25% subsidy rate.

WASHINGTON - Amid a lackluster housing market, additional downgrades of military base projects and budgetary uncertainty, adjustment was the theme Thursday at The Bond Buyer's sixth annual military housing privatization conference.

WASHINGTON - The Securities and Exchange Commission would create a five-person office of municipal securities and a 35-member office of credit ratings, both of which would report directly to the chairman as mandated by Dodd-Frank, according to letters the SEC sent lawmakers.