President Obama’s bipartisan fiscal reform commission cited a tax-reform bill that would eliminate tax-exempt bonds and replace them with tax-credit bonds as a potential way forward when it comes to simplifying the tax code and reducing the federal deficit, according to a draft proposal released Wednesday.

The report, released by the National Commission on Fiscal Responsibility and Reform, references a bill introduced in February by Sens. Ron Wyden, D-Ore., and Judd Gregg, R-N.H., as the basis for one of its recommendations for tax reform.

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