Washington

Federal securities regulators have dismissed the most serious claim against the city’s airport authority and removed a top official from litigation altogether as part of a settlement reached in the long-running legal battle over a controversial tax increment bond offering in 2008.

Chairman Jerome Powell is under pressure to adopt what would amount to a put tied to the bond market.

Rep. Bill Shuster's infrastructure discussion draft would temporarily raise federal fuels taxes for the ailing Highway Trust Fund while a newly created commission would determine how to ensure its long-term solvency.

The plan for a second tax reform bill is galvanizing municipal market groups to step up lobbying efforts to tout the importance and benefits of munis to lawmakers on Capitol Hill.

House Judiciary Chairman Bob Goodlatte, R-Va., blasted the Supreme Court’s 5-4 decision in South Dakota v. Wayfair, Inc. as having “the potential to unleash chaos for consumers and remote sellers, particularly small business sellers.”

Sen. John Kennedy, R-La., suggested he and Sen. Elizabeth Warren, D-Mass., may introduce a bill that would require MSRB to elect public members who represent consumers and are not just retired industry executives.

During the new issue pricing period is when institutions place their orders. Independent advisors and their clients are wise to follow the money.

The 1.2-percentage point reduction will amount to $12,000 in saving on a $1 million tax settlement.

The Municipal Securities Rulemaking Board named Gary Hall as its next chair and Edward Sisk to become vice chair. It also temporarily cut fees to reduce excess reserves by $2.6 million.

School districts, higher education institutions and healthcare providers could feel the pinch, according to Eric Kim of Fitch Ratings.