Municipal bonds brought us clean water at the tap. This crucial development is in danger from proposals to eliminate the tax-exemption on municipal securities for essential governmental purposes.
Commentary: Threats to Tax-Exemption Also Threaten Our Clean Water
APR 3, 2013 11:13am 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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