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Bill to Raise Issuer Limit For Bank-Qualified Bonds Offered in Senate
Two Senators have introduced a companion bill to a measure in the House that would permanently raise the annual issuer limit for issuers of bank-qualified bonds to $30 million from $10 million.  more »
A bill introduced by Sen. Bob Menendez, D-N.J. raise the annual issuer limit for issuers of bank-qualified bonds to $30 million from $10 million.
Lawmakers should consider limiting, reforming or eliminating the exclusion of interest on municipal bonds, The Tax Foundation said in a report. more »
The Internal Revenue Service has closed audits and left the tax-exempt status unchanged for $311.28 million of community development district bonds in Florida that started the whole debate about political subdivisions and led the tax agency to propose controversial rules for such districts earlier this year. more »
Republicans delegates adopted a 2016 platform at their national convention in Cleveland that supports statehood for Puerto Rico, but not for the District of Columbia. The GOP also wants to abolish the Internal Revenue Service, overhaul the federal tax code, and expand the use of P3s for infrastructure projects. more »
A repeal of the tax exemption for municipal bonds would cost state and local governments an additional $495 billion in interest over a ten-year period, Bond Dealers of America told Congress recently. more »
The Treasury Department and the Internal Revenue Service released final arbitrage rules on Friday that address issues relating to advance refundings, long-term working capital financings, hedges, investments, and grants among other things. more »
A tax reform plan released by Rep. Jim Renacci, R-Ohio, would replace the corporate income tax with a consumption tax and lower individual tax rates while maintaining the tax-exempt status of municipal bonds. more »
Rep. Peter DeFazio’s bill to impose a 0.03% tax on secondary market trades of stocks, bonds and derivatives would include tax-exempt as well as corporate bonds, a spokeswoman for the Democrat from Oregon said on Thursday. more »
A recent study’s findings that the share of households holding municipal debt fell considerably over a 24-year period with a corresponding condensing of ownership in the hands of the wealthiest may lead to political questions related to muni debt, the study’s authors conclude. more »
San Diego residents will have a chance this fall to vote on a proposed hotel room tax hike that would back bonds for a $1.8 billion professional football stadium-convention center downtown, but some critics question the bond financing. more »
The House approved an appropriations bill that would reduce funds for the Internal Revenue Service, the Securities and Exchange Commission and the District of Columbia for fiscal 2017, which begins on Oct. 1. more »
Less than two months after Las Vegas officials released a proposal to bring the Oakland Raiders to Sin City, a committee has proposed lowering the public price tag by $200 million. more »
The House Republican blueprint for tax reform introduced last month would result in a 9.1% higher GDP over the long term, 7.7% higher wages and 1.7 million more full-time equivalent jobs, the Tax Foundation said on Tuesday. more »
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 »

Natalie Cohen, Managing Director at Wells Fargo Securities, talks with The Bond Buyer’s Chip Barnett about the global attractiveness of U.S. municipal bonds in a negative interest rate environment in Europe and Asia. She discusses market volatility after the U.K. Brexit vote, looking at both the market side and the effect on state and local governments and public pensions.

In the past 3½ years, the Securities and Exchange Commission has asserted its enforcement role considerably, in what can fairly be described as a form of direct regulation of issuers.

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