Washington

Several individuals have emerged as candidates to replace Transportation Secretary Ray LaHood when he steps down, but that person will need to be very proactive to affect meaningful policy, lobbyists say.

President Obama urged Congress on Tuesday to pass a short-term spending cut and tax reform package as a way to stave off the looming March 1 sequestration cuts that he said would be economically damaging to the U.S. economy.

The Treasury Department has reopened the sales of State and Local Government Securities as of Tuesday at noon.

State tax revenues rose 2.7% in the third quarter of 2012 for the eleventh consecutive quarter of growth, the Rockefeller Institute of Government reported Tuesday.

District of Columbia Chief Financial Officer Natwar Gandhi will retire on June 1, he announced Friday.

Pennsylvania is distributing $8.6 million in restitution from JPMorgan Chase & Co., to municipalities and nonprofit organizations who were victims of a scheme to rig bids of municipal bond reinvestment contracts, the Pennsylvania Attorney General's office announced.

A bill has been introduced in the state legislature to sell the naming rights for public facilities.

District of Columbia Chief Financial Officer Natwar Gandhi and Mayor Vincent Gray announced a $417 million 2012 surplus this week, bringing the city's fund balance to its highest in five years.

Revenues at municipalities may increase slightly in 2013 and additional municipal bankruptcies will be uncommon as state and local governments continue a slow economic recovery, speakers at the Governing Outlook conference said here Tuesday.

U.S. airports have $71.3 billion in capital needs through 2017, a major airport interest group said Tuesday, a funding goal that they are not on track to meet.

Public-private partnerships are "toxic" to a lot of people and the mere mention of them can hinder projects, California Treasurer Bill Lockyer said Tuesday. Lockyer said, "Avoid talking about public-private partnerships. They are toxic with a lot of people."

A bill pending in the Maryland Senate would require the state transportation authority to begin exploring the possibility of a bond-financed bridge across the Chesapeake Bay.

San Francisco Supervisor John Avalos plans to request a hearing to examine whether city investments were harmed by manipulation of a key lending rate.

Ray LaHood, a big supporter of high-speed rail and the Dulles Silver Line project, plans to step down as Transportation Secretary after a successor is nominated and confirmed by the Senate.

Senate Budget Committee Chairman Patty Murray, D-Wash., has unveiled a "My Budget" online site for members of the public to provide their views on the next budget.

The Municipal Securities Rulemaking Board will soon make muni market benchmark data, including yield curves and other market indices, available on the EMMA web site to give market participants determine fair prices.

Moody's Investors Service gave Wenatchee, Wash. one notch upgrades on its general obligation bond ratings that kept the ratings in speculative territory and handed the city a stable outlook with critical comments attached.

A plan released by the Washington Metropolitan Area Transit Authority details $6 billion of investment the nation's second-busiest subway system needs to make over the next 12 years, and stresses the need for new revenue to support it.