Two senators last night unveiled a bill that would make the $30 million small-issuer limit for bank-qualified bonds permanent and index it to inflation.
The Municipal Bond Market Support Act of 2010, introduced by Sens. Jeff Bingaman, D-N.M., and Mike Crapo, R-Idaho, has been referred to the committee.
The bill would extend a provision in the American Recovery and Reinvestment Act that allows banks to deduct 80% of the costs of buying and carrying tax-exempt debt sold by borrowers whose annual issuance is no greater than $30 million. That is an increase above the previous limit of $10 million. The provision is currently scheduled to expire at the end of the year.
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The rating agency cited New Jersey's "robust budgetary surplus" while continuing to make actuarially based pension contributions.
7h ago -
By the close, muni yields were bumped up to four basis points, depending on the curve, while UST yields rose two to five basis points.
9h ago -
Walter O'Connor's decades-long tenure as a municipal bond portfolio manager at BlackRock will come to an end next year.
10h ago -
A congressional budget impasse is leading toward a stopgap funding measure via a continuing resolution which could solve a budget shortage in the District of Columbia.
11h ago -
The House oversight subcommittee hearing was titled "Virtue Signaling vs. Vital Services."
September 17 -
Ohio politicians are racing to deliver relief as a citizens group gathers signatures for a November 2026 ballot initiative to end property taxes in the state.
September 17