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.