The ranking Democrat on the House Ways and Means Committee said Tuesday that the Obama administration's proposed 28% cap on tax expenditures should be considered as a source of additional revenue in upcoming fiscal fights, but warned it should be viewed with caution.
Levin: Congress Must Consider Proposed 28% Cap, But with Caution
JAN 15, 2013 2:08pm ET
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"One of these things does not belong" is a catchy slogan and it comes to mind when looking at the latest tax policy ideas coming from Washington when looking at the municipal bond tax exemption. The exemption is not a result of the growth of a tax code designed to induce or reduce certain behaviors. Rather, it is the foundation for the flow of capital in a $3.7 trillion dollar market required to efficiently finance the nation's infrastructure.
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