Washington

WASHINGTON — A divisive labor issue that had stalled negotiations on a Federal Aviation Administration reauthorization bill has been resolved, and there is now a real possibility that the long-awaited legislation could land on the president's desk before the Jan. 31 deadline.

WASHINGTON — Moody's Investor’s Service is keeping its negative outlook on U.S. toll roads because of rising fuel prices, political hesitancy to increase toll rates, and a sluggish economy.

Infrastructure projects would acquire a new source of funds under a bill that would allow investors to make tax-deductible contributions to approved projects.

While ratings will remain stable in the public power sector over the next 12 months, the sluggish economy and prospect of new regulations pose risks for the longer term, Standard & Poor's said in a report issued Thursday.

The Joint Committee on Taxation released its annual tax expenditure estimates showing $177.6 billion for public-purpose muni bonds over five years, while a governmental group urged President Obama and congressional leaders to "go big" on federal deficit reduction and rely on two reports that proposed curtailing or eliminating tax exemption for new muni bonds.

WASHINGTON — The Securities and Exchange Commission should consider seven alternative methods of compensating rating agencies, including one patterned after the Municipal Securities Rulemaking Board, the Government Accountability Office said in a report sent Wednesday to key members of Congress.

WASHINGTON — Securities and Exchange Commission chairman Mary Schapiro told lawmakers Wednesday that the agency is considering whether to exempt all muni issuers, not just states, counties and cities, from federal regulators' joint Volcker rule proposal.

Institutional investors generally trade at more favorable prices than individual muni investors in the secondary market, the Government Accountability Office said in a report sent Tuesday to key members of Congress.

Internal Revenue Service officials are taking a two-pronged approach to address concerns there may be ongoing mispricing of investments and bonds in the muni market.

A public pension disclosure project spearheaded by a bond attorneys' group is expected to reach a critical milestone when it should become clear whether a voluntary coalition of industry participants will reach consensus on the project or produce separate recommendations.

WASHINGTON — The White House is once again asking Congress to increase the federal borrowing limit by $1.2 trillion to avoid hitting the nation's debt ceiling, but the request is sure to trigger another battle on Capitol Hill and possibly threaten the availability of sales of state and local government series securities to municipal issuers.

WASHINGTON — Despite the financial struggles and criticism faced by prominent fast-rail projects in California and Florida, high-speed and regional rail is likely to proceed out of necessity, according to an analysis by Fitch Ratings.

State and local governments should not allow underwriters to pass through any fees they pay to finance the Governmental Accounting Standards Board, the Government Finance Officers Association warned members Thursday.

SAN FRANCISCO — Washington Gov. Christine Gregoire asked lawmakers Tuesday to put a temporary sales-tax increase measure before voters and pass $3.6 billion of transportation spending.

The Commodity Futures Trading Commission voted 4 to 1 to approve a final rule on business conduct standards for swap dealers designed to protect states and local governments, as well as taxpayers, from fraud in the swaps marketplace.

With the Jan. 31 expiration date of the latest Federal Aviation Administration reauthorization law coming up fast, hopes for a long-awaited multi-year bill are giving way to pessimism as airport lobbyists fear that deep partisan divides and a limited number of congressional work days may wind up producing another short-term measure or FAA shutdown.

SAN FRANCISCO — An eastern Washington public facilities district that defaulted on $42 million of notes last month is scrambling for ways to pay investors.

The Internal Revenue Service's initiative to determine whether municipal bonds are being initially offered at prices that fail to comply with tax requirements has left issuers upset and confused about the definition of issue price and what specific abuses the IRS is looking for.

Municipal Securities Rulemaking Board officials on Tuesday urged issuers to encourage Moody's Investors Service to post rating information on the MSRB's online Electronic Municipal Market Access system.

WASHINGTON — Public-private partnerships do not necessarily supply more funds for highway construction than traditional government financing, and spending by the private party must be restricted by budget caps or legal limits for states and localities to see benefits from P3s, a Congressional Budget Office study concluded Monday.