MBFA Submits Tax Reform Recommendations to Senate Finance Committee
The Municipal Bonds for America (MBFA) Coalition sent a letter to the Senate Finance Committee’s tax reform working groups on Community Development and Infrastructure and Individual Income Tax in response to the Committee’s request for public input on tax reform, announced in March. According to the Committee’s press release, “Each of the five bipartisan working groups is currently working to produce findings on current tax policy and legislative recommendations within its area, with the goal of having recommendations from each of the five working groups completed by the end of May. Submissions from stakeholders will be reviewed by the working groups and ideas can be incorporated into the each working group’s final recommendations. The five working group recommendations will be delivered to Chairman Hatch and Ranking Member Wyden, and will be considered in developing bipartisan tax reform legislation.”
The letter advocates for the preservation of the tax-exemption for municipal bonds, citing the benefits of bonds for state and local governments, community investment and taxpayers and warning of the implications of proposals to limit or eliminate the tax-exemption.
The letter is available here.