Washington

Securities and Exchange Commission Chairman Mary Schapiro may have lost the first round in her push to reform the $2.6 trillion money market mutual fund industry, but the fight has only just begun.

The Municipal Securities Rulemaking Board has filed proposed rule changes with the Securities and Exchange Commission that would require the exact par value of trades up to $5 million to be reported over EMMA on a near-real time basis.

The IRS is auditing $98.5 million of general obligation refunding bonds that the State of Texas Water Financial Assistance issued in 2002.

The Securities and Exchange Commission will not pursue regulations aimed reducing the susceptibility of money market mutual funds to market runs, SEC chairman Mary Schapiro said in a statement Wednesday night.

The U.S. is headed for a deep recession in the first half of 2013 if Congress fails to avert nearly $500 billion in tax hikes and federal budget cuts from the "fiscal cliff," the Congressional Budget Office warned Wednesday.

Four municipal market groups are urging the Treasury Department and the Internal Revenue Service to publish guidance on determination of issue price for tax-exempt, tax credit and direct subsidy bonds.

Four transportation projects will be expedited as part of the president's "We Can't Wait" program, the Obama Administration announced this week, including the $3.5 billion Columbia River Crossing linking Vancouver, Wash. and Portland, Ore.

The Internal Revenue Service granted an extension to an issuer so that it could correct a form it filed for multi-family housing bonds without jeopardizing the tax-exempt status of the bonds, according to a recently issued private letter ruling.

Washington Bureau Chief Lynn Hume talks to Michael Decker of SIFMA

Piper Jaffray & Co., Foster Pepper PLLC and K&L Gates LLP may reduce fees to settle over legal claims tied to Wenatchee $42 million note default.

The Internal Revenue Service is auditing $162.53 million of general fee revenue bonds issued by Auburn University in 2007.

Seattle-area voters appeared to have approved two property tax measures to help improve facilities and operations amid tight budgets.

Washington saved $74 million this week by refunding more than $700 million of general obligation bonds in two competitive sales, officials said.

Bond Buyer Washington Bureau Chief Lynn Hume interviews George Friedlander, Chief Muni Strategist at Citi.

Bond Buyer Washington Bureau Chief Lynn Hume interviews Toby Rittner, Pres. and CEO, Council Development Finance Agencies

The U.S. Senate confirmed Mark Mazur late Thursday by a voice vote to serve as the Treasury Department's assistant secretary for tax policy.

The threats to the tax-exemption are the greatest they have ever been primarily due to the level of federal deficit reduction that Congress needs to tackle, several municipal bond market experts said at the annual Council of Development Finance Agencies conference.

A bipartisan Senate package to revive dozens of expiring or expired tax breaks, including several muni provisions, would cost $205.1 billion over 10 years, according to an analysis from the Joint Committee on Taxation.

John Cross, the associate tax legislative counsel in the Treasury's Office of Tax Policy, is to become director of the SEC's new Office of Municipal Securities in September.