*Complete Elimination of Tax-Exemption for All Bonds Included*
This week, the House Committee on Ways and Means released a broad list of potential pay-for options for the extension of the 2017 Tax Cuts and Jobs Act (TCJA).
The 50 page document contains a mix of policy repeals and the elimination of many federal tax expenditures, including a FULL REPEAL of tax exempt interest of municipal bonds, as well for Private Activity Bonds (PABs), Build America Bonds (BABs) and “other non-municipal bonds.”
The document can be found here with bonds featured on p. 8-9
It should be noted this is a comprehensive list of options the Committee is studying, and will be pared back over time. The MBFA continues to ramp up activity in Washington, leading industry advocacy on munis, however, this highlights the need for increased advocacy from the municipal market as the talks heat up here in DC.
More information on our advocacy efforts can be found here.
Fly-In Scheduled for February 6th
We are hosting it’s first Capitol Hill fly-in of 2025 on February 6th. It is critical this year for market participants to speak with key Congressional Committee and Member staff, ensuring they understand the importance of the tax-exemption and the markets. With high turnover since passage of the 2017 bill, educational meetings for Hill staff such as this are key an our efforts to protect the tax-exemption.
If you, or your firm is interested in participating in this, or a future fly-in please contact Brett Bolton at bbolton@bdamerica.org.
