WASHINGTON -- We all know it's impossible, as the saying goes, to turn a sow's ear into a silk purse.

But Ways and Means Chairman Dan Rostenkowski may have come close to doing that -- at least as far as the municipal bond market is concerned -- with an element of President Bush's proposal for creating enterprise zones, economically blighted areas where special tax breaks and regulatory relief would generate jobs.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.