385 Organizations Sign Letter to Save the Muni-Exemption
On February 21, 2017, the Municipal Bonds for America (MBFA) Coalition sent a new letter to the House and Senate Leaders, including House Ways and Means and Senate Finance Committee leaders, urging them to retain the current law status on municipal bonds as a part of their ongoing debate on comprehensive tax reform. The letter is signed by 385 organizations from across the United States, representing almost all 50 states. This letter brings continued attention to the value that municipal bonds provide as the strongest and most proven method of financing ongoing infrastructure needs for state and local governments and ultimately, the constituents of all Congressional representatives.
Specifically, the letter highlights:
•State and local governments have financed infrastructure and other community related projects using tax-exempt municipal bonds for over a century
•Reducing or eliminating the tax exemption for municipal bonds could raise infrastructure costs by 10 to 12 percent, with these costs being passed directly to taxpayers
•Preserving the current law status of municipal bonds is essential in rebuilding our nations economy and infrastructure
The letter will remain open for signatures at the MBFA website here. As we continue to grow support and receive additional signatures on the letter, we will update the website with new numbers.