A refunding surge triggered by low interest rates and soaring airport issuance contributed to the surge in transportation bond volume in 2012, experts said.
Transportation Volume Took Off With Airport Refundings
FEB 10, 2013 12:07am 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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