Public finance

The Obama administration has no Plan B for the revenue that would be needed to support its proposed $478 billion, six-year transportation measure if Congress fails to pass its corporate tax reform proposals, Transportation Secretary Anthony Foxx said Thursday.

Congress should pass a short-term transportation bill by mid-March so that the construction season can be as robust as possible, the top Democrat on the House Transportation and Infrastructure Committee said Thursday.

ARKANSAS

ARKANSAS

An increase in the federal gasoline tax is seen as the most viable option for long-term transportation funding at Senate hearing.

ALABAMA

CALIFORNIA

In a review of key public finance sectors affected by falling oil prices, Moody's Investors Service analysts see an upside for transportation and those supported by consumer spending.

There are few lay-ups in muni bond investing, but jettisoning buy-and-hold for dynamic tax management may be one of them.

Almost 300 House Democrats and Republicans joined in a letter pushing for passage of a long-term highway bill by May 31.

Some portfolio managers have moved beyond merely matching benchmarks as they strive to match clients’ goals.

Detroit leaders are poised to send a $1 billion 2016 budget to the financial committee that oversees the bankrupt city that it hopes will be the first of three straight balanced budgets that would give the city financial independence by 2018.

Maryland pushes back bids on its $2.5 billion Purple Line P3 rail project so partners can study how to build it cheaper.

ARKANSAS

ILLINOIS

Sponsors of a privately funded $10 billion high-speed rail project between Houston and Dallas opt for route with fewest landowner issues.

Easing Detroit Public Schools' debt burden is considered key to the district's revival and survival, and bankruptcy is possible, according to one of the reformers working on the turnaround effort.

While municipal bond volume was essentially flat by par value in 2014, there were significant variations from sector to sector.

Total long-term municipal bond issuance did what no one thought it would do in 2014: beat 2013's total issuance.

Note volume was 17% lower than it was last year as state and local governments continued a period of austerity, supported by a stronger United States economy that helped strengthen finances and curtail the need for short-term cash flow.