News and Information from Bond Buyer

Using dynamic scoring, the Joint Committee on Taxation has estimated that legislation to extend tax provisions, including several related to bonds and Puerto Rico, would result in only $86.56 billion of revenue losses, compared to its earlier estimated $96.95 billion.

Moody's Investors Service said it has upgraded by one notch the ratings on Detroit, Mich.'s distributable state aid backed bonds.

Newly issued Treasury securities held in stripped form increased about $1.091 billion in July to a total of $216.643 billion, the Bureau of the Public Debt reported Tuesday.

CIVICVentures, an Alaska non-profit, is selling $90 million of tax-exempt refunding bonds next week on behalf of Anchorage.

Kansas started off its new fiscal year with tax revenues running $3.7 million below expectations, according to the Kansas Department of Revenue.

Standard & Poor's outlook on the University of Minnesota Regents' rating has dimmed due to pressures posed by the state flagship school's increasing debt load.

Standard & Poor's Rating Services said it raised its long-term rating to A-plus from A on Luther Burbank School District, Calif.'s existing general obligation bonds.

Tax reform proposals in California are spreading like mushrooms as elected officials and public policy groups discuss changes to income taxes, sales taxes and property taxes.

Sen. Tom Carper, D-Del., wants to almost double current federal gasoline and diesel taxes to raise more revenue for highway funding.

The Senate Appropriations Committee's fiscal 2016 financial services bill would significantly underfund the Securities and Exchange Commission and undermine the Internal Revenue Service's ability to carry out basic functions, Office of Management and Budget director Shaun Donovan warned committee leaders in a letter this week.

The Wayne County, Mich., board opted to enter a consent agreement with the state government, one of the four choices it had to deal with the county's financial emergency.

Prices of top-rated municipal bonds were unchanged to stronger at mid-session, according to traders, with yields steady to as much as one basis point weaker.

Moody's Investors Service has reviewed the new restructuring proposal filed by the Puerto Rico Electric Power Authority (PREPA; Caa3 negative), which states that non-forbearing bondholders would recover 65%-70% of the original legal promise in cash, depending on maturity, and which makes default a virtual certainty.

The Treasury Department said Thursday it will auction $24 billion 91-day bills and $24 billion 182-day discount bills Monday.

All Aboard Florida, the nation's first privately owned passenger rail, plans to quickly begin marketing $1.75 billion of private activity bonds after a key vote sealing the deal late Wednesday.

Detroit is nearing its first public bond sale since bankruptcy as it posted bond documents for the deal on Thursday.

Indicator Last Report Forecast Actual Initial Jobless Claims 7/25: 267,000 8/1: 271,000 8/1: 270,000 Continuing Claims 7/18: 2.269M 7/25: 2.240M 7/25: 2.255M

Municipal bond market traders will be seeing considerably less supply coming to market on Thursday as the week's new issues taper off. Traders will be watching yields, which have been edging up in the past few sessions.

Thursday, August 6 Issuer St Description Amount

Thursday, August 6 Issuer St Description Amount