Lynn Hume

The Democrats' draft bill would be "a great way to make sure that no U.S. territory ever borrows in the muni market again," said Municipal Market Analytics' Matt Fabian.

The American Trucking Association touts its Build America Fund as a much better solution to financing infrastructure than tolls or public-private partnerships.

Sen. James Lankford, R-Okla., and Rep. Robert Pittenger, R-N.C., have asked the GAO how many tax-exempt munis were used for abortion-related facilities during the past 20 years and what was the associated federal tax liability.

Tax-exempt private activity bonds, which came close to being terminated in tax reform legislation, are now a centerpiece of the Trump administration's leaked infrastructure plan -- and market participants hope to use this as a springboard for a return of tax-exempt advance refundings.

President Trump's purported latest infrastructure plan would remove state volume caps, advance refunding prohibitions and state volume caps from private activity bonds used for infrastructure.

Sens. John Cornyn, R-Texas, and Mark Warner, D-Va., introduced their bill to expand PABs the same day that the U.S. Chamber of Commerce recommended such an expansion in its four-part infrastructure plan.

Municipal Securities Rulemaking Board members meeting here next Wednesday and Thursday will discuss the market comments it received on whether to write new rules or guidance on primary market practices.

A bipartisan group of House lawmakers have issued a report calling for the state volume caps to be removed for private activity bonds used to help finance infrastructure projects.

While the latest principles for President Trump's infrastructure plan may not be released until February, several Democrats have introduced bills for competitive grant programs for infrastructure projects.

A tale of two bond-financed fertilizer projects in the Midwest -- how one is thriving with the IRS' blessing on the bonds and the other is at a virtual standstill and in a dispute with the tax regulator.

The decision impacts $1.26 billion of economic development revenue and refunding bonds issued by the company, which said it is considering its response to the IRS.

Former U.S. Transportation Secretary Ray LaHood an 116 groups call for a bipartisan, multi-level governmental approach to infrastructure that includes municipal bonds.

The Board said "filtering" bids and offers can hurt retail investors, liquidity, and market efficiency.

President Trump's long-awaited infrastructure plan is due out in January, but some muni market participants worry any legislation seeking federal funding might cut PABs for revenue.

A three judge panel of the appeals court said a supplemental environmental impact statement does not need to be written to analyze the impact of Metrorail's problems on the $5.6B Purple LIne P3 project.

Market experts see less municipal bond volume next year, far fewer bank loans, new buyers of bonds, and more volatility if the tax bill is enacted as expected.

The future accessibility of private activity bonds and stadium bonds is the massive tax bill's gift to the municipal market this holiday season. However, the bill also brings coal in the form of a year-end halt to advance refundings and a drop in the corporate tax rate.

Republicans, however, are still negotiating the PAB provisions and have been considering eliminating the ability of issuers to carry forward for up to three years any of their unused allocations of PABs, as well as scrapping some smaller categories.

Muni issuers are being forced to take action on tax-exempt private activity draw-down bonds and commercial paper because of the House tax bill.

Bank loan documents often have corporate tax gross-up provisions.