Washington

Congress has hit the pause on Washington, D.C.'s budget process as a framework for transforming the RFK Stadium site into a viable $3.2 billion NFL venue emerges including the possibility of tapping $856 million in public funds.

Just as the economy could become topsy turvy, so could the municipal market.

Responses to an MSRB request for comment indicated broad support for an option designed to modernize delivery of municipal fund securities disclosure documents, but there was less unanimity regarding the need for a stand-alone time of trade disclosure rule.

With the threat to tax exempt municipal bonds looming in a Congress searching for pay-fors, private activity bonds supporting hospitals and higher education are high on the list of potential first targets.

Texas investor John Kleinheinz now controls Texas Central, which has spent more than a decade trying to build the Dallas-to-Houston high speed train.

Anna Paulson, executive vice president and director of research at the Federal Reserve Bank of Chicago, will replace outgoing Philadelphia Fed President Patrick Harker.

The MSRB's rate card RFI and municipal fund securities will be among agenda topics at next week's quarterly board meeting.

"Settlor's remorse" is no justification for upsetting a settled order, SEC says.

Rep. French Hill and committee leaders urged House Ways and Means to protect tax-exempt municipal bonds as Congress gears up to tackle tax policy.

The Senate's move to rely on an untested accounting method for the reconciliation bill contributes to the lack of clarity around future deficits, the ratings agency said.