U.S. Representative Randy Hultgren (IL-14), Co-Chair of the Congressional Municipal Finance Caucus, led 20 of his Republican colleagues in sending a letter to House and Senate leadership urging them to preserve the tax - exempt status of private activity bonds in any tax reform legislation. The letter stresses the importance of maintaining the tax-exempt status of advance refundings which allow state and local governments to maintain market interest rates through refinancing.
Steve Benjamin, Mayor of Columbia, SC, and Chairman of the Municipal Bonds for America (MBFA) Coalition, submitted a letter showing support for Sen. Cardin’s amendment, which would strike the repeal of advance refunding bonds in the Tax Cuts and Jobs Act. The MBFA is appreciative of the attention that is being paid to this very important issue that would impact state and local governments across the country and is pushing for further support for the amendment during the mark-up proceedings this week.
MUNICIPAL BONDS FOR AMERICA is a non-partisan coalition of municipal bond issuers and State and local government officials along with other municipal market professionals working together to explain the benefits of the tax-exempt municipal bond market which provides the financing needed to build vital infrastructure throughout the United States.
This is not dessert, this is bread and butter…investment in our cities is non-negotiable.
Stephen Benjamin, MBFA Chairman