Public finance

Sens. Ron Wyden, D-Ore. and John Hoeven, R-N.D., on Monday introduced legislation that would create Move America Bonds, which would generally be treated as exempt-facility, private-activity bonds but would have fewer restrictions and separate state volume caps that could be converted into tax credit allocations.

Average gasoline consumption falls to a 30-year low, threatening revenues from the main source of state and federal transportation funding.

Tim McGregor, director of municipal fixed income management at Northern Trust, says volatility is creating opportunities.

KENTUCKY

ALABAMA

House Ways and Means Chairman Paul Ryan is working on a "limited tax reform" package that could contain revenue for the Highway Trust Fund and extenders and that could be passed this summer.

Municipal bond volume is expected to rebound to more than $9 billion in the coming week, as issuers take advantage of post-tax season demand.

CALIFORNIA

ALABAMA

For the week ended April 30, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, increased four basis points to 4.30% from 4.26% from the previous week.

Dozens of municipal market groups made the case for preserving tax-exempt bond financing and/or easing certain bond restrictions in documents submitted to the Senate Finance Committee’s tax-reform working groups.

Oregon selects the vendors that will collect the vehicle data needed for the nation’s first pay-per-mile road usage program.

Chicago’s CFO, Lois Scott, is promoting the city's new plan to take on $200 million of new debt to pay for canceling interest-rate swaps and to phase out debt restructurings.

INDIANA

ALABAMA

House Appropriations subcommittee adopted a fiscal 2016 transportation budget with no increase in highway and transit spending.

After 42 years at Moody's Investors Service, John Incorvaia is retiring after spending most of his analytical career covering Florida. April 30 is his last day on the job.

The Panama Canal expansion will benefit East Coast local governments near key ports, but West Coast ports will not lose business from the expansion, according to a Moody’s Investors Service report.

A second federal lawsuit has been filed challenging the private activity bond financing for the All Aboard Florida train project; the latest suit comes from Martin County, Fla.

Rep. Rep. Bill Pascrell, who keeps a Lucite encased drinking water pipe in his office as a reminder of the "very serious and urgent" need, has continued to press for his Sustainable Water Infrastructure Investment Act.