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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As always, economists had disparate interpretations of the consumer price index, with none expecting a July rate cut. And tariff questions remain unanswered.
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Prices for some bonds issued for Florida's express train have fallen sharply since Friday.
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Puerto Rico's disputes with New Fortress Energy, the parent of the island's power plant operator, Genera PR, could spread to PREPA.
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The city council voted unanimously to hold a special election on an 11-part GO bond proposition, which will be the largest in the city's history.
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With big state incentives and tariff protection, a United Arab Emirates-based aluminum producer has pledged to build the first new U.S. smelter in decades.
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The hires "will help us further deepen our relationships," said the firm's head of public finance.
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