MIAMI - Although the federal government has taken steps to aid the municipal market, it must do more to help issuers facing the "greatest fiscal crisis since 1933," including possibly providing direct credit enhancement on muni bonds, Rep. Gerald Connolly, D-Va., said yesterday.

Without federal support, state and local governments will be forced to make cuts that counteract the effects of the federal stimulus bill for the entire country, Connolly told market participants gathered here for The Bond Buyer and Regional Bond Dealers Association National Municipal Bond Summit.

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