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.
The Municipal Bonds for America (MBFA) Coalition submitted a letter to Senate Finance Chairman Orrin Hatch (R-UT) and other members of the Senate Finance Committee to show its appreciation for protecting the underlying tax exempt status on municipal bonds, including private activity bonds (PABs). However, the Coalition strongly objected to the inclusion to deny tax exemption to advance refunding bonds.
The Municipal Bonds for America (MBFA) Coalition wrote a letter to the Senate and House leadership to recommend the preservation of the current law tax-exempt status of all municipal bonds, including advance refunding and private activity bonds (PABs) and to oppose the provisions in the Tax Cuts and Jobs Act that would eliminate this exemption.
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