Far West

Americans, even in rural areas, overwhelmingly favor expanding public transportation such as rail or bus transit rather than highway construction, which traditionally has received much more funding, according to a recent national poll.

WASHINGTON — State and local governments will save $12.3 billion on the $90 billion of Build America Bonds issued so far compared with traditional tax-exempt debt, the Treasury Department said in a recent report touting the success of the program.

SAN FRANCISCO — Caltrain, the commuter rail line that connects San Francisco to San Jose, is facing a fiscal crisis that could force it to cut half its service next year.

WASHINGTON — The District of Columbia’s convention center hotel project, which has been delayed for years, may finally be getting closer to financing, with a possible $250 million bond sale later this spring following a favorable court ruling last week, district officials said.

WASHINGTON — A group of California cities and localities are urging a federal judge in Manhattan not to dismiss the 13 cases they brought against Wells Fargo & Co. and 44 other banks, broker-dealers and investment brokers, charging they conspired to rig bids and fix prices of guaranteed investment and derivatives contracts in the muni market.

SAN FRANCISCO — A disagreement between Los Angeles Mayor Antonio ­Villaraigosa and City Council members over the size of an electric rate increase at the city utility turned into a standoff last week — meaning there will be no rate increase at all for now.

In a rare move for a lawmaker, House Financial Services Committee chairman Barney Frank announced Thursday that he has prohibited his staff from having any contact with a former aide who joined a company that operates derivatives exchanges after playing a key role in writing last year’s derivatives legislation.

WASHINGTON — Local housing finance agencies have asked the Treasury Department to push back the Dec. 31 deadline for converting short-term taxable bonds to long-term, tax-exempt, fixed-rate bonds under its New Issue Bond Purchase program, warning they will have trouble meeting it.

SAN FRANCISCO — Idaho lawmakers adjourned this week after a session dominated by budget woes, while giving voters the chance to restore the ability of government-owned airports and hospitals to issue revenue bonds without a ­referendum.

WASHINGTON — President Obama’s enactment of a new law yesterday that would require all federally guaranteed student loans to be originated by the federal government has led the state and nonprofit entities that have historically loaned to students to contemplate their future in the market.