The Committee for a Responsible Federal Budget issued a report that analyzed and reviewed the tax breaks under discussion as part of tax reform, including a chart with estimates about how much revenue would be generated over 10 years if various reforms were made to the municipal bond tax-exemption. Read full Bond Buyer article here.
Category: Protecting Tax Exempt Municipal Bonds
The BDA works with industry partners, including issuers and state and local groups, through the Municipal Bonds for America (MBFA) Coalition to preserve the tax exempt status of municipal bonds.
Learn more about the MBFA
BDA In the News: Mike Nicholas Talks About Fight to Preserve Tax-Exemption
View the video [here.]
BDA Submits Statement to House Committee on Ways and Means: Focuses on Importance of Tax-Exempt Municipal Bonds
BDA’s testimony focuses on the vital importance of maintaining the tax exempt status of municipal bonds and the potential impact on the municipal market, investors, and issuers if the tax exemption for municipal bonds is altered, replaced or eliminated. View the full statement [here.]
Municipal Bonds for America Coalition Sends Letters to President Obama and Leadership on Capitol Hill Urging Preservation of Muni Tax Exemption
Among the concerns MBFA identifies is a fundamental alteration of the function of what has been a healthy and efficient tax exempt municipal bond market. Of more immediate concern is the market reaction occurring as a result of the reconsideration of the 28% cap contained originally in President’s FY 2012 budget proposal. The threat of…
Joint Committee on Taxation Memo Includes Repeal of Tax Exemption on Muni Bonds in Analysis
The nonpartisan Joint Committee on Taxation has prepared a memorandum for all members of the Senate Finance Committee [available here]. The memorandum analyzes the revenue effects and tradeoffs from: Repeal of the alternative minimum tax, Repeal of the overall limitation on itemized deductions for certain taxpayers, Repealing all itemized deductions; Taxing capital gains and dividends…
BDA in the NEWS: BDA continues to urge the fight against limiting the Muni Tax Exemption
At BDA’s National Fixed Income Conference, which took place October 6-7, 2011, the BDA urged issuer groups to become more active in the fight against the potential for elimination of the Muni Tax Exemption, saying the issue is still on the table with regard to Federal Tax Reform. View The Bond Buyer Article here (subscription…
Obama Proposes Limiting Muni Tax Exemption
The President did not release any analysis of the effect of this proposal on the municipal market, on investors, on issuers, or on local taxpayers and ratepayers who would have to bear the cost of the increased in debt service that would result from this proposal. The new muni bond tax would apply those taxpayers…
House Democrats Introduce Bill Reinstating Expired Bond Provisions
The bill would, among other provisions, extend through the end of 2011, the 2009 provisions for Bank-Qualified Bonds. The bill would also extend Build America Bonds for 2 years with the reimbursement rate at 32 percent for 2011 and 31 percent for 2012. The bill would also provide additional allocations of Recovery Zone Bonds, exempt…
The White House's National Commission on Fiscal Responsibility and Reform, "The Moment of Truth" has recommended the elimination of the municipal bond tax-exemption.
Read Full Report Here