WASHINGTON — Five groups representing local governments are urging Senate Finance Committee leaders to maintain the federal tax-exemption for municipal bonds, ensure states and localities retain the authority to set their own tax policies, and refrain from preempting governments and threatening their fiscal health by granting preferential tax treatment to certain industries.

Separately, 25 muni market groups urged committee leaders to maintain the tax-exempt status of muni bonds, claiming they are a vital low-cost financing tool for development of infrastructure, schools and affordable housing needs.

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