Treasury Department

Former Treasury official Kent Hiteshew will keep his hand in infrastructure, Puerto Rico issues.

The rules would be overly burdensome, restrictive, costly, and would hamper infrastructure projects.

Replacing LIBOR will raise economic and tax issues for many floating rate munis and swaps.

The federal government ran an $90.2 billion deficit in June, the Treasury Department reported Thursday.

Treasury has targeted the proposed political subdivision rules as burdensome.

Newly issued Treasury securities held in stripped form increased about $3.760 billion in April to a total of $249.587 billion, the Bureau of the Public Debt reported Friday.

While he would prefer if Congress raised Treasury's borrowing limit before its August break, Treasury Secretary Steven Mnuchin said in a televised interview, even if a deal is not reached, the government will be "fine" until they return in September.

The estimate echoes an assurance Treasury Secretary Steven Mnuchin gave reporters Friday in Ottowa.

Kent Hiteshew will leave as director of Treasury's Office of State and Local Finance at the end of the week.

An ABA group warns tax regulators the proposed political subdivision rules could hurt many existing bond issuers.