Washington

State and local governments will continue to face trying fiscal conditions next year, characterized by stubbornly high unemployment and slower economic growth, according to the Securities Industry and Financial Markets Association’s semiannual economic outlook.

WASHINGTON — State plans for high-speed rail lines are in danger due to a lack of stable funding and underdeveloped federal leadership and guidance, according to a new report by the Government Accountability ­Office.

The Internal Revenue Service has closed an audit of $119.2 million of student loan bonds issued by the Massachusetts Educational Financing Authority with no change to the tax-exempt status of the debt.

WASHINGTON — A two-year extension to the Build America Bonds program, as well as extensions to a handful of other bond provisions set to expire at the end of the year, remain in legislative limbo as Senate Democratic leaders this week continue attempts to produce a tax bill that they can pass.

WASHINGTON — The executives of United and Continental airlines yesterday assured members of the Senate Commerce, Science, and Transportation Committee that airline service would not be cut if their companies merge.

WASHINGTON — A Republican proposal that would have allowed the Build America Bond program to expire at the end of the year was defeated yesterday, as Senate lawmakers continued working toward passing legislation to extend several expiring tax breaks, including for BABs.

WASHINGTON — House and Senate conferees meeting to hammer out a financial regulatory reform bill appear to have reached an agreement that would allow the Municipal Securities Rulemaking Board to regulate financial advisers and other market intermediaries.

WASHINGTON — The Securities and Exchange Commission is stepping up its enforcement efforts in the municipal securities market for the first time in more than a decade, with a staff of roughly 30 attorneys charged with investigating and trying muni and public pension fund cases.

House conferees meeting to hammer out compromise financial regulatory reform legislation potentially handed the Securities and Exchange Commission at least two significant victories yesterday: the authority to self-fund its operations without annual appropriations from Congress and the authority to register and regulate municipal financial advisers.

The nascent nationwide push for high-speed rail still needs a specific funding plan and a mix of federal, local and private sources are now being explored, U.S. Department of Transportation officials said yesterday.

WASHINGTON — The District of Columbia Council on Tuesday approved savings measures to increase reserve funds and reduce borrowing needs in an attempt to offset the drop in the district’s capital cushion resulting from the economic recession.

Democratic governors and senators yesterday pushed for the Senate to add an amendment to a tax-extenders bill that would provide federal funds to states to help them through their budget crises, with members expected to begin voting on the bill today.

The Financial Industry Regulatory Authority has censured and fined Credit Suisse Securities LLC $10,000 for improper or late reporting of municipal securities trades.

WASHINGTON — House conferees debating financial regulatory reform legislation today are expected to vote on amendments that would require the Securities and Exchange Commission to register and regulate municipal financial advisers, replacing Senate language that would give such regulatory authority to the Municipal Securities Rulemaking Board.

WASHINGTON — Senate Republicans have proposed an alternative bill to extend expiring tax-law provisions that would not include Build America Bonds, a major difference from pending legislation, which would extend the BAB program by two years while gradually reducing its subsidy rate to 30% from 35%.

The Treasury Department should issue guidance on the definition of issue price for Build America Bonds and proceed with 10 other regulatory projects on a priority basis, the National Association of Bond Lawyers told department officials in a recent letter.

Sen. Richard G. Lugar, R-Ind., has joined a growing number of senators pushing for climate-change and energy reform by introducing legislation designed to help utilities taper off their use of coal-fired power plants and spur the development of nuclear power.

WASHINGTON — Municipal market regulatory issues will not be studied for up to two years under changes to the base legislation Senate and House conferees are using to reconcile their competing legislative proposals to overhaul financial regulations.

Transportation stakeholders are concerned that the Obama administration has not released a set of reauthorization principles by the time Transportation Secretary Ray LaHood said it would.

WASHINGTON — A group of Senate Democrats sent a letter yesterday to Sens. John Kerry, D-Mass., and Joseph Lieberman, I-Conn., urging them to add billions of dollars for transportation-related investments to the draft climate and energy bill the two recently unveiled.