Washington DC

The era of "announcement" is over; the era of "execution" is here.

The MSRB published the request for comment Nov. 3 to seek input on draft amendments to Rule D-15, which defines the term sophisticated municipal market professional.

States have been slow to put the money to work.

In rural areas, "even modest rate increases can force low-income households to choose between water service and other basic necessities," Matt Odermann from the National Rural Water Association told senators Wednesday.

Washington D.C. is trying to follow the lead of many states that have decoupled their tax policy from the provisions of the One Big Beautiful Bill Act, but Congress is signaling disapproval which would result in a budget shortage.

"This would be an unnecessary change that would be difficult to administer and comply with and which would severely limit municipal entity choice," the Bond Dealers of America said in a comment letter.

Wisconsin Republican Ron Johnson formed a Senate subcommittee to investigate the Los Angeles fires at the request of Sen. Rick Scott, R-Fla.

"I was in banking for a long time and this gives me a chance to support the market from another angle," said Rob Dailey.

"MSRB is committed to ensuring our regulatory framework keeps pace with an evolving market," MSRB Board Chair Natasha Holiday said.

The District of Columbia deals will bring a mix of new money and refunding bonds with a variable-rate component.

"These municipal bond schemes improperly divert new issue bonds to bad actors at the expense of bona fide retail investors," FINRA's Meghan Ferguson said.

Democrats said they've paused negotiations until the administration relaxes its anti-clean energy stance.

Public finance advocates are trying to interpret mixed signals about plans to pass a major reconciliation bill that could put the threat to the tax-exempt status of munis back on the table.

MSRB CEO Mark Kim described GFOA's letter suggesting changes the MSRB could make as "very constructive, very valuable."

Bond advocates are watching the appropriations process while the possibilities of a Farm Bill and surface transportation reauthorization may offer openings for restoring advance refunding and raising the BQ cap.

It could signal the issuer did not get the best price during a negotiated deal, officials said.

The House rallied to pass a minibus of appropriations bills ahead of the Jan 30 deadline including most of what the public transit sector wanted.

Former WMATA CFO Yetunde Olumide has joined the MSRB as its chief financial officer.

"Compliance should never feel like a game of gotcha," SEC Chairman Paul Atkins said.

A letter outlining the industry's priorities marks the PFN's first official act under a new nonprofit status.