Excerpt from a recent post from Bernardi Securities, Inc. about the tax-exempt status of municipal bonds, and how it could effect municipalities if it were repealed:
…As we approach year-end, the threat to municipal bond tax exemption remains a clear and present danger. As long as congressional budget disagreement persists, as long as the Congressional Budget Office, Joint Committee on Taxation, and Treasury officials claim changing tax exemption will generate significant revenue — the threat remains. And it is not removed if Congress agrees to a narrow agreement on this year’s federal budget.
It is incumbent upon state and local government officials, taxpayers and citizens benefitting from public purpose infrastructure facilities to speak loudly and clearly demanding that federal income tax-exemption be left alone… Please click here to read Ronald P. Bernardi’s full Research Insights post.