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Leading Democrats, Republicans Split on House GOP Proposed Tax Reform
The House GOP blueprint for tax reform released Friday sparked mixed reactions in Congress, with leading Democrats criticizing its lack of detail and Republicans lauding its proposed pro-growth efforts through limits on deductions, exclusions and credits in the current tax code.  more »
"Republicans' Wrong Way tax agenda would ransack our investments in jobs, infrastructure, education and the future of our nation," House Minority Leader Rep. Nancy Pelosi, D-Calif., said in response to the GOP blueprint for tax reform released last week.
Revenue estimates for the District of Columbia's fiscal 2016-2020 budget and capital plan remain nearly unchanged from the district's February estimate, D.C.'s chief financial officer said this week. more »
House Republicans released a blueprint for tax reform that left some muni groups and experts concerned that the tax-exempt status of municipal bonds may be in jeopardy. more »
The District of Columbia submitted its enacted $13.4 billion fiscal 2017 budget and 2017-2020 capital plan to Congress and President Obama Wednesday, defying Republican legislation that would curtail any such action without congressional approval. more »
An Iowa casino and racetrack is challenging the proposed loss of its tax-exempt status by the Internal Revenue Service, claiming it lessens the burdens of government and is a legitimate 501(c)(4) social welfare organization. more »
The Internal Revenue Service may soon revoke the tax-exempt status of a Georgia housing corporation that for three consecutive years failed to file information returns on a $7.81 million bond issuance in 2013. more »
The Senate Appropriations Committee on Thursday approved a fiscal 2017 appropriations bill that would maintain current funding levels for both the Internal Revenue Service and Securities and Exchange Commission as well as increase federal funding for the District of Columbia. more »
The Internal Revenue Service said Thursday it has both added an interactive feature to its Form 8038-CP to help taxpayers avoid mistakes and updated how it processes the forms’ requests for refundable credit payments. more »
The amount of aggregate tax-supported debt outstanding among states declined slightly in fiscal 2015, according to a report released this week by S&P Global Ratings. more »
A bipartisan bill introduced in the House would allow state and local governments to issue up to $5 billion in private activity bonds to finance the construction and upkeep of certain publically owned buildings. more »
The Treasury Department has determined that $385,118 of taxable general obligation qualified zone academy bonds issued by a Missouri school district in 2012 do not qualify for refundable tax credits. more »
An Internal Revenue Service audit of $73.6 million of Series A excise revenue refunding bonds issued by the city and county of Denver in 2009 has been closed with no change to the bonds’ tax-exempt status. more »
The House Appropriations Committee on Thursday approved a fiscal 2017 appropriations bill that would reduce funds for the Internal Revenue Service, the Securities and Exchange Commission and the District of Columbia. more »
The Internal Revenue Service should do more targeted than random audits to reduce burdens on issuers and improve compliance amidst strained resources and staff, an advisory panel recommended. more »

Carl Weisbrod, Director of the New York City Department of City Planning, joins Bond Buyer Senior Markets Reporter Chip Barnett to talk about the surge in NYC’s population and corresponding employment growth and why economic growth is dependent upon affordable housing for workers.

Municipalities buy insurance to obtain a higher credit rating for a bond issue and a commensurately lower borrowing cost. The savings arise from a lower coupon or, if the coupon is fixed, a higher price. But how can municipalities make sure that bond insurance makes economic sense for them? The answer is to pay close attention to the costs and benefits.

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