Washington

The Municipal Securities Rulemaking Board launched a new service on Monday that will allow state and local municipal bond issuers to schedule automated emails that will remind them of their self-imposed deadlines for filing annual and quarterly financial disclosures.

The U.S. Department of Transportation has suspended consideration of a $5.5 billion loan request for a high-speed rail project from Las Vegas to Southern California.

Pressure is mounting for the Securities and Exchange Commission to complete its rulemaking defining municipal advisors, with congressional aides saying a House panel will likely hold a hearing on potentially preemptive legislation after the August recess.

The newest U.S. Senator, Ed Markey, has been assigned to the Commerce, Science and Transportation committee, which splits jurisdiction over transportation issues with the Environment and Public Works Committee.

The Senate Banking Committee unanimously agreed to recommend the full Senate confirm Kara Stein and Michael Piwowar as Securities and Exchange Commission members and approve chairman Mary Jo White to serve a full term.

Just three months after the operator of the parking garages at New York's Yankee Stadium defaulted on its debt, it faces another obstacle, this time with the Internal Revenue Service.

The Financial Industry Regulatory Authority fined four firms $106,000 and fined and suspended an individual for municipal securities rule violations.

The American Bar Association's Tax Exempt Financing Committee recommended that the Treasury Department and the Internal Revenue Service issue guidance on the definition of issue price and safe harbors for determining private use of management contracts for bond financed facilities as part of its 2013-2014 priority list.

State debt issuance has remained below average levels even though governments have large infrastructure needs and less ability to pay for projects through pay-as-you-go financing, Standard & Poor's said in a report.

The Municipal Securities Rulemaking Board announced Wednesday it will launch a tool to help issuers keep track of the dates they must file periodic financial disclosures to its EMMA website. But some question whether this will cause a dispute between the MSRB and Digital Assurance Certification.

Dozens of lawmakers are urging House leaders to reject proposals to eliminate or cap the exclusion for tax-exempt bonds.

The Municipal Securities Rulemaking Board's EMMA system received more than 500,000 continuing disclosure documents from municipal securities issuers or their agents between July 2009 and March 2013, the board reported Wednesday.

Warning of a growing public pension debt crisis, Sen. Orrin Hatch introduced reform legislation on Tuesday that would allow state and local governments to invest in annuity contracts with private life insurance companies.

The Securities and Exchange Commission will pursue no enforcement action against Rhode Island over its pension financial disclosures, Treasurer Gina Raimondo said.

Virginia Gov. Bob McDonnell has released a draft report showing 10 candidate and 10 conceptual transportation projects that could move forward as public-private partnerships in the commonwealth.

The Washington State legislature reached a budget agreement on Thursday, meeting its deadline by three days and averting a government shutdown.

Secretary of Transportation Ray LaHood said farewell Thursday and gave praise to his department after serving there for over four years.

Virginia is continuing its push to be the leading public-private partnership state, opening a bustling travel corridor to private sector involvement a day after a major infrastructure firm announced it has moved its U.S. headquarters to the commonwealth.

The Senate Finance Committee's top two tax writers asked their 98 colleagues on Thursday to submit detailed proposals justifying which tax breaks should be kept in the code as they move forward on comprehensive tax reform.