The threats to tax exemption are the most serious they have ever been since the Roosevelt Administration but the market can successfully defend it from lawmakers who are looking for more revenue, said a former  House committee tax counsel here at a conference.

Speaking at the general session at the National Association of Bond Lawyers 13th annual Tax and Securities Law Institute, John Buckley, who worked for House Ways and Means Committee Democrats, outlined some of the most pressing threats to the municipal bond industry.

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