Bonds
Former Banker in Congress Sticks Up for Muni-Bond Tax Break
Construction workers pour asphalt for road repairs in Tempe, Arizona.
Photographer: Ash Ponders/BloombergThis article is for subscribers only.
A group of Republicans is standing up for the municipal tax-exemption, threatening a possible revenue raiser for their party’s marquee tax bill this year.
In a letter addressed to Chairman Jason Smith of the Ways and Means Committee, seven GOP lawmakers on the Financial Services Committee lauded municipal bonds as a “critical tool that has underpinned American infrastructure and community development for over a century.” They warned about the fallout if the exemption were to go away.