Forty-two state treasurers are urging members of Congress to maintain the tax-exempt status of municipal bonds, claiming that any changes will result in long-term, adverse ramifications for the country’s public infrastructure.

“The need to build and maintain our public infrastructure has never been more acute,” Virginia state treasurer Manju Ganeriwala, president of the National Association of State Treasurers, wrote in a two-page letter to the House Ways and Means Committee. “Eliminating or reducing the tax exemption will greatly limit our ability to address these needs, resulting in fewer projects, fewer jobs and deteriorating infrastructure.”

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