Washington

Congressional leaders are plotting out plans to land the surface transportation reauthorization before a September deadline.

Acting Director Sam Waldon "will be a steady hand for the division during this period, including for municipal securities-related enforcement activity," said Kathleen Marcus, a partner at Stradling.

With no rate change expected, analysts are watching the new Summary of Economic Projections and the statement for insight into the panel's thinking.

The order from U.S. District Judge F. Dennis Saylor IV was issued at 5 p.m. Eastern Time on Friday. 

A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.

Educational institutions risk "hefty fines and other serious consequences, including potential loss of federal funding," should they fail to submit timely and complete data. 

The Senate approved the ROAD to Housing Act which will raise the public welfare investment cap, a move that should increase bond issuance.

Allowing tax-exempt bonds to remain outstanding during a long-term concession would lower financing costs, advocates say.

The Internal Revenue Service is proposing rule changes regarding the complex relationship between tax-exempt bonds, arbitrage and State and Local Government Series Securities.

The state says the $6.5 billion project is not possible without toll revenue.