Yesterday, the BDA submitted a letter to Rep. Kevin Brady (R-TX), Chairman of the House Ways & Means Committee. The BDA’s letter focuses on maintaining the current law status for tax exempt municipal bonds. You can view the BDA’s letter here.
Specifically, the BDA letter addresses the following:
- How borrowing costs would increase for state and local governments by limiting or eliminating the municipal tax-exemption
- Heeding caution on the negative consequences to investors and the municipal market from proposals that alter the tax treatment of municipal bonds
- Stressing the importance of the Committee to consider the real world implications, specifically to fixed-income retirees, when examining ways to reform the tax code
The BDA will continue to work with staff and members on Capital Hill to ensure this very important issue continues to be understood and appreciated.
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