Far West

State and local governments will continue to face trying fiscal conditions next year, characterized by stubbornly high unemployment and slower economic growth, according to the Securities Industry and Financial Markets Association’s semiannual economic outlook.

ALAMEDA, Calif. — With a new fiscal year looming next Thursday, there is no agreement in sight on a California budget, though the opposing arguments are becoming clearer.

WASHINGTON — State plans for high-speed rail lines are in danger due to a lack of stable funding and underdeveloped federal leadership and guidance, according to a new report by the Government Accountability ­Office.

The Internal Revenue Service has closed an audit of $119.2 million of student loan bonds issued by the Massachusetts Educational Financing Authority with no change to the tax-exempt status of the debt.

WASHINGTON — A two-year extension to the Build America Bonds program, as well as extensions to a handful of other bond provisions set to expire at the end of the year, remain in legislative limbo as Senate Democratic leaders this week continue attempts to produce a tax bill that they can pass.

ALAMEDA, Calif. — Legislation enacted to separate California’s veterans’ home loan bond program from the state’s general fund had an immediate ratings payoff.

ALAMEDA, Calif. — The California attorney general’s office appears to have junked a proposal by Democrats to raise $8 billion by securitizing revenue from bottle and can deposits.

WASHINGTON — The executives of United and Continental airlines yesterday assured members of the Senate Commerce, Science, and Transportation Committee that airline service would not be cut if their companies merge.

WASHINGTON — A Republican proposal that would have allowed the Build America Bond program to expire at the end of the year was defeated yesterday, as Senate lawmakers continued working toward passing legislation to extend several expiring tax breaks, including for BABs.

WASHINGTON — House and Senate conferees meeting to hammer out a financial regulatory reform bill appear to have reached an agreement that would allow the Municipal Securities Rulemaking Board to regulate financial advisers and other market intermediaries.