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A higher cap for federally allocated tax-exempt private activity bonds could make state transportation P3 projects more attractive to investors.
March 5
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President's Obama $3.9 trillion fiscal 2015 budget, released Tuesday, proposed capping the value of the tax exemption for municipal bond interest at 28%, which market participants complain would amount to an unprecedented tax on municipal bonds.
March 4
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President Obama plans during the next two months to send Congress draft legislation for a four-year, $302 billion reauthorization of the surface transportation funding program, Transportation Secretary Anthony Foxx told reporters Tuesday during a briefing on the fiscal 2015 budget.
March 4
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Detroit has reached a new settlement with its interest-rate swap counterparties that could significantly boost its efforts to pursue a cramdown plan of adjustment if necessary.
March 3
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Annual spending on roads and bridges is up to $50 billion short of what is needed to maintain and improve them, U.S. DOT said in report on transportation infrastructure
March 3
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Detroit is treating the bonds issued by the Downtown Development Authority as secured, though the DDA itself is expected to take a 80% haircut on an outstanding loan, Fitch Ratings noted in a comment.
March 3 -
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A $1.1 billion Texas Transportation Commission revenue offering and a $700 million New York City general obligation sale this week will pump some life into the lackluster new-issue market.
March 2
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Fitch Ratings downgraded more than $4 billion of Detroit Water and Sewerage Department debt to junk bond status Friday afternoon.
February 28 -
Detroit said creditors should have until June 9 to review and vote on the controversial debt plan it filed last week in bankruptcy court.
February 28
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The governments of Los Angeles plan to issue $5.5 billion in debt over the next year, Los Angeles City Administrative Officer Miguel Santana told Los Angeles' 2nd Regional Investors Conference
February 28
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All of Detroit's major creditors, including bond insurers, Friday asked the federal judge overseeing Detroit's bankruptcy case to delay the fast-track schedule by at least a month or more.
February 28
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Proposals to pump up the sagging Highway Trust Fund without raising the federal gasoline tax offer a solution to the highway funding impasse.
February 28 -
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Rep. Bill Shuster, chairman of key House transportation committee, wants to study two new plans to bolster the sagging Highway Trust Fund
February 27
