Washington DC

The clock is ticking on Congress waiving PAYGO for Build America Bonds, a budget bear trap that could delay promised subsidy payments totaling $14 billion to issuers.

Municipal issuers pushed hard but unsuccessfully against the bill, which gives them four years to standardize their financial information.

Must-pass spending bills and a debt ceiling fight are in the near future.

The regulation would establish a universal standard requiring dealers in any transaction with a customer to use reasonable diligence to get the customer the best price.

Expanded use of stimulus funds, fully funded water infrastructure grant programs and housing assistance are among the asks from League of Cities as Congress crafts a 2023 spending package.

The change would give broker dealers, municipal securities dealers and municipal advisors until Jan. 31 to annually affirm the information on Form A-12, among other changes.

The latest version of a controversial financial disclosure bill includes changes that benefit muni issuers after a major push by the public finance lobby.

The Municipal Securities Rulemaking Board has announced its fifteen-member Compliance Advisory Group for the 2023 fiscal year, which includes eleven women and four men.

The trade group is adding the operations group to boost fixed income expertise.

Most states are still spending federal dollars and boast full rainy-day funds.

The provision shifts rulemaking and enforcement of the new disclosure standards to the SEC from the MSRB, which was charged with the task in an original version.

The White House has asked for an additional $37.3 billion to send to states and communities that faced natural disasters last year, including $600 million to Jackson, Mississippi, for its water crisis.

The industry's biggest lobbying group also said it sees continued threats from regulation.

Incoming House Democratic caucus chair Pete Aguilar was a California mayor and served on the League of California Cities, bringing the kind of local experience that's considered helpful to muni market interests.

The Securities and Exchange Commission's 2020 amendments to rule 15c2-11 on the publication of quotes by broker dealers won't be enforced until 2025.

Tribal governments have invested in 344 infrastructure and affordable housing projects as a result of $20 billion received from the American Rescue Plan Act.

The private sector remains confused about buying American, potentially slowing how it can react to the needs of states and localities eager to get building.

Former state transportation official Shailen Bhatt, if confirmed by the full Senate, would play a key role in the rollout of highway funds in the bipartisan infrastructure law.

In the letter addressed to House congressional leaders, members urged leadership to expand the affordable housing credit and lower the PAB requirement.

Ruben James Rojas agreed to admit wrongdoing and pay a $50,000 fine after the Securities and Exchange Commission found that he misled bond investors in connection with a $100 million offering.