Washington

State and local groups told members of Congress that tax-exempt bonds are the cornerstone of infrastructure financing, as the lawmakers consider how to increase spending on roads and bridges as well as tax reforms that could entail restrictions on tax exemption.

Financial advisor Montague DeRose & Associates has merged with Annette Yee & Company.

A federal judge denied a request by two Florida counties for additional documents about public financing for the All Aboard Florida private passenger train project, moving their lawsuits closer to a ruling on dismissal.

Six lawmakers are joining the powerful tax-writing House Ways and Means Committee, while two are joining its counterpart, the Senate Finance Committee.

The Financial Industry Regulatory Authority's enforcement priorities for 2017 will include ensuring municipal advisors are properly registered with regulators, checking broker-dealers' compliance with best execution requirements, and monitoring firms' efforts to avoid unsuitable recommendations of securities.

Sen. Chuck Schumer, D-N.Y., said Tuesday in his inaugural speech as Senate Minority Leader that he hopes for more direct spending in President-elect Donald Trump's proposed $1 trillion infrastructure plan.

Nearly three-quarters of state pension plans and more than half of local plans cut benefits and/or raised employee contributions to combat rising employer costs in the five years following the financial crisis, the Center for Retirement Research at Boston College said Tuesday.

Muni participants predict 2017 may bring the first major tax legislation in three decades, and they are pulling out all the stops to make sure the muni exemption is maintained to finance infrastructure.

While most muni market participants agree that 2017 could be the year of comprehensive tax reform, they have mixed views on whether the muni exemption is safe under the tax proposals of President-Elect Donald Trump and House Republicans.

Outlook for Public-Private Partnerships in 2017