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Legislation to create an education savings account program that would cost an initial $1 billion and serve nearly 100,000 students advanced out of a committee.

MSRB Chair Warren "Bo" Daniels stressed the importance of issuer feedback as beta testing for the modernized EMMA website continues.

The Fed meets this week, but the probability of another cut at Wednesday's meeting seems low amid elevated inflation and growth data, said Matt Fabian, a partner at Municipal Market Analytics.

The SEC's muni office chief stopped short of saying there might be enforcement imminent.

"There are a lot of moving parts here with the potential to either help or hinder the Fed's quest for price stability and maximum employment" this year, noted BMO Deputy Chief Economist Michael Gregory, who says the Fed will "stand pat."

The president suggested federal aid could be sent directly to states instead of through FEMA.

As state and local governments are charged with funding 3/4ths of the country's infrastructure, the catastrophic wildfires in Los Angeles highlight even more the municipal bond market's vital role in keeping the U.S. competitive globally and maintaining the heart of fiscal federalism at home.

Kroll Bond Rating Agency downgraded Chicago's general obligation bonds to A-minus from A, citing high fixed costs and one-time fixes. The outlook is negative.

Ongoing work to potentially simplify the new issue disclosure submission process and discussion of dealer supervisory obligations will be among topics on deck at the Municipal Securities Rulemaking Board's upcoming quarterly board meeting.

Bondholders say the Puerto Rico Energy Bureau is legally required to set rates to cover all bond principal and pre- and post-petition interest due. The board disagrees.