Rep. Brady Lays Out Agenda for Ways and Means Committee
New Ways and Means Committee chair Rep. Kevin Brady, R-Texas, said on Wednesday that he plans to solicit the views of House members on tax reform over the next few months.
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Two Senators have introduced a bipartisan bill that would allow tax-exempt private-activity bonds to be used to help power plants and industrial facilities finance projects to capture and store carbon dioxide. more »
The Internal Revenue Service has sent a final notice to the City of Scottsdale, Ariz., Municipal Property Corp. claiming that some of the $65 million of bonds issued in 2013 to refinance the initial term of a lease for a garage are taxable. more »
The Internal Revenue Service has issued guidance clarifying that state student loan programs can use tax-exempt bonds to fund parent loans for students and that tax-exempt bonds can be used for a broad range of refinancings that help student loan borrowers take advantage of lower rates. more »
The Internal Revenue Service’s tax-exempt bond office has told Mobile, Ala., that the general obligation refunding and improvement warrants it issued in 2006 are probably taxable. more »
Seven former Internal Revenue Service commissioners are decrying ongoing House and Senate appropriations cuts for the IRS, warning they are hurting tax enforcement as well as taxpayer assistance, among other things. more »
The New Jersey Health Care Facilities Financing Authority appears to be settling a tax dispute with the Internal Revenue Service over revenue bonds it issued in 1993 for Deborah Heart and Lung Center, which later entered into a total return swap. more »
Municipal bonds would be hurt under Republican presidential candidates’ tax reform proposals because the plans would lower or eliminate individual and corporate income tax rates, congressional observers said. more »
Sales of State and Local Government Series Securities will resume Tuesday at noon EST, the Treasury Department said, after President Obama signed legislation Monday that suspends the debt limit through March 15, 2017. more »
The IAH Public Facility Corp.' $49 million of bonds for a jail in Polk County, Texas, are one of a number of issues that have been audited by the IRS, which has claimed jail bonds are taxable private activity bonds. more »
The National Governors Association is calling on newly elected House Speaker Paul Ryan to move transportation and online sales tax legislation. more »
Treasury Department and Internal Revenue Service officials appeared open to modifying the proposed issue price rules they released in June, asking muni market group representatives at a public hearing Wednesday about their concerns and recommended changes. more »
Municipal bond issuers and borrowers haven’t substantially improved the amount of time they take to complete their financial audits, a report from Merritt Research Services found. more »
A budget deal released late Monday would suspend the debt limit through March 15, 2017 but would also extend sequestration of direct-pay bond subsidies by an additional year, through fiscal 2025. more »

Career Zone


New York State Assemblyman Phillip Goldfeder, D-Queens, examines outer-borough growth and transit needs in New York City, as well as efforts to harden its water-exposed neighborhoods.

The notion of option-adjusted spread (OAS) is the standard analytical tool for taxable fixed income securities. It is also making inroads into the muni market. Unfortunately the usual implementation for munis is flawed, rendering the results virtually meaningless. So it is understandable that many muni professionals shy away from OAS in favor of the archaic ‘yield-to-worst’ approach. Correct implementation would undoubtedly attract converts.

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