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The administration is most likely to exhaust the extraordinary measures it can take to avoid reaching the debt limit in late February rather than in March, the Treasury Secretary told congressional leaders in a letter Wednesday.

Arizona public schools say the state owes them $330 million in state funding withheld during the economic downturn.

California Treasurer Bill Lockyer appointed Deana Carrillo to head the California Alternative Energy and Advanced Transportation Financing Authority.

Michigan Gov. Rick Snyder said the state will commit up to $350 million to pay off Detroit's pension debt and protect its prized art collection, in what would be the state's first significant intervention in the historic bankruptcy.

A robust municipal bond market continued on its upward trajectory, comfortably absorbing new issues and driving prices higher.

Hawaii's $844 million budget surplus for fiscal 2013 means the state has entered a new phase, said Gov. Neil Abercrombie in his state of the state address.

Houston is seeking to overturn a Texas law that limits its right to negotiate limits on firefighter pension contributions.

The Kansas Jayhawks basketball team will get a $17.5 million apartment building funded by donations and revenue bonds.

The California Infrastructure and Economic Development Bank plans to price $97 million combined refunding/new money on Jan. 23 as part of its plans to ramp up lending.

An investigation of Florida's Orlando Orange County Expressway Authority prompted the board Wednesday to reduce the terms of a contract offer to the new executive director.

The judge overseeing Detroit's bankruptcy case turned down a request by bond insurers and other major creditors to weigh in on the fate of the city's art collection.

Securities and Exchange Commission Officials confirmed Wednesday that the SEC's office of enforcement will carry the responsibility of overseeing all of the more than 1,100 registered municipal advisors

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA-plus from AA on the Association of Bay Area Governments (ABAG), Calif.'s lease revenue bonds, series 2002-I.

Standard & Poor's Ratings Services said it raised its school issuer credit rating on Valley View Independent School District (Cooke County), Texas' general obligation debt one notch to A-plus from A.

Standard & Poor's Ratings Services said it raised its long-term and underlying rating to AA from AA-minus on South Texas College District, Texas' existing general obligation bonds.

Gov. Deval Patrick submitted his final budget to Massachusetts lawmakers Wednesday, proposing a $36 billion spending plan for fiscal 2015 that would increase spending nearly 5%.

Missouri Gov. Jay Nixon proposed a fiscal 2015 budget that would increase education spending $500 million and authorize $200 million in appropriation supported bond borrowing for a mental health facility.