The proposed 28% cap on the value of tax exemption would be a far less dangerous threat to the municipal bond community than a top income tax rate of 25%, a former congressional tax counsel said at the American Bar Association's tax-exempt financing committee winter meeting in Orlando, Florida.
Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY