Far West

SAN FRANCISCO — A push for a constitutional amendment to reduce Washington’s debt limit has run into a political roadblock.

WASHINGTON — States are ramping up pressure on online-only retailers to pay billions of dollars in state sales taxes, hoping the funds will help bring their tax collections into the 21st century.

The Securities Industry and Financial Markets’ Association is urging the Municipal Securities Rulemaking Board to withdraw its draft broker’s brokers rule and leave the existing regulatory and enforcement scheme intact.

SAN FRANCISCO — Treasurer Bill Lockyer said California has recouped $2.67 million in fees paid by municipal bond underwriters to industry lobbying groups from state bond proceeds.

WASHINGTON — A federal cap on tax-exempt bonds could gradually wean investors and issuers off the muni market and toward a permanent, expanded Build America Bond market that has a flexible subsidy rate, a new report from the Center for American Progress argues.

WASHINGTON — With financial regulators combing through pension reporting by state and local governments, the National Association of Bond Lawyers unveiled guidance Monday to boost issuers’ disclosure practices.

SAN FRANCISCO — California Gov. Jerry Brown has scrapped a contentious $356 million bond-funded plan to build a new death row wing at the San Quentin prison.

WASHINGTON — A House Ways and Means Committee panel plans to hold a hearing next Thursday on a bill that would prohibit state and local governments from issuing tax-exempt bonds unless they meet certain pension disclosure requirements.

SAN FRANCISCO — The restructuring of $2 billion of San Joaquin Hills toll-road debt appears to have bondholders on board since the alternative is a likely default.

WASHINGTON — The Federal Reserve Wednesday lowered its forecast for economic growth in 2011, while also lowering its expectation for the unemployment rate this year, as chairman Ben Bernanke warned the U.S. budget deficit is the “most important economic problem” the country faces.