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Taxation

Senate Budget Committee Chair Calls for Tax Expenditure Cuts

JAN 25, 2013 3:08pm ET

New Senate Budget Committee Chairman Patty Murray, D-Wash., insists tax expenditures must be cut and other revenues raised for the fiscal 2014 budget in a letter and memo that are raising alarm among municipal market participants.

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Comments (1)
The 28% tax cap does not take away from the rich. The rich will get the after tax rate they are looking for. The rates the middle class and the poor pay for bond financed water, sewer & street projects will increase. The middle class and poor will be taxed the difference. In the end, the rich get richer.
Posted by tmeierhenry | Monday, January 28 2013 at 9:55AM ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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