The municipal tax-exemption is again at heightened risk as Congress looks to draft tax reform legislation for President Trump by later this month, speakers told a packed meeting of the Municipal Bond Club of New York.

Though the industry has received assurances from the administration that the tax break will be preserved, the Government Finance Officers Association got mixed signals in recent talks with 46 members of Congress, said Emily Brock, director of the group’s Federal Liaison Center. The muni tax-exemption has been under fire since its inception in 1913, and Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee, left the exemption off a short list of tax breaks that won't be on the table during the current tax reform effort.

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