Washington

Rep. Paul Ryan's proposed fiscal 2015 budget "takes a bipartisan jackhammer" to transportation funding, said Rep. Nick Rahall, the top Democrat on the House Transportation & Infrastructure Committee.

Three convicted bid-riggers filed documents with a federal appeals court this week arguing that their convictions should be overturned because of several errors by the lower court.

Small financial advisory firms face the most challenges adapting to the new rules and regulations governing municipal advisors, with some predicting that many of the smallest MAs will go out of business.

Senate Finance Committee chairman Ron Wyden has proposed a bill to extend roughly 47 expired and expiring tax provisions, including four relating to bonds, governments, and Puerto Rico. Sens. Wyden and Orrin Hatch, the top Republican on the committee, have scheduled a vote on the proposed extender legislation for Thursday.

A new study projects that Puerto Rico could receive billions of additional federal dollars if it became a state, information that some observers said could inject new life into the statehood debate on the financially troubled island.

For yet another year, uncertainty surrounding the potential loss or cap of the municipal tax exemption concerned panelists at the National Municipal Bond Summit.

A Treasury Department official told bond lawyers to view the municipal bond provisions in House Ways and Means Committee Chairman Dave Camp's tax reform plan as a "scorecard of revenue offsets" that can be used in other tax proposals.

The Securities and Exchange Commission's new program to encourage self-reporting of a specific continuing disclosure violation is facing some skepticism from bond lawyers even as one SEC attorney said it may eventually be expanded to cover other violations.

The Governmental Accounting Standards Board unanimously voted not to delay the implementation of new reporting requirements for governments that provide their employees with pensions, after the Government Finance Officers Association and other groups pressed for a postponement.

Municipal bonds are a better option than P3s for water utilities, an environmental advocate told a special House P3 panel Tuesday.

The Washington State Legislature adjourned last week without passing two large bond sales that would fund school construction projects in the state.

Dealer groups are happy that the Municipal Securities Rulemaking Board has exempted sophisticated municipal market professionals from its proposed best execution rule, but would like more guidance and economic analysis going forward.

Federal Judge Kimba Wood, who imposed $5.6 million in fines and restitution on municipal bond bid-rigger David Rubin, called prison unwarranted for the founder of CDR Financial Products.

The Transportation Department may have to begin rationing state highway grants in July as the Highway Trust Fund is expected to dip below the critical $4 billion mark by summer.

Oregon's legislature ended its short session this month, approving over $5 billion in debt, but ending the Columbia River Crossing plan for a modern Interstate 5 span across the Columbia River.

State tax revenues are growing more slowly again, the Nelson A, Rockefeller Institute of Government said Tuesday in a report based on preliminary data for the fourth quarter of last year.

Washington State lawmakers are working to pass a bill that would authorize lottery-backed bonds to fund school construction projects throughout the state.

Construction associations and labor unions have formed a grassroots coalition to pressure Congress for additional investment in transportation infrastructure.

Sen. Mark Kirk, R-Ill., wants an additional $4 billion of tax-exempt private activity bonds available for transportation projects.

The sentencing of municipal bond bid-rigger David Rubin has been postponed to 3:30 p.m. March 12.