Senate Budget Committee Chairman Patty Murray, D-Wash., has unveiled a "My Budget" online site for members of the public to provide their views on the next budget.
The site — http://budget.senate.gov/democratic/index.cfm/mybudget — was launched Tuesday, a few days after she sent colleagues a memo arguing that revenues must be raised by cutting tax expenditures that benefit the wealthy for fiscal 2014 budget.
The biggest dozen tax expenditures include the income exclusion for muni bond interest.
Murray's memo drew concerns from muni market participants who have been battling a proposal from President Obama and some lawmakers for a 28% cap on the value of tax-exemption.
The cap amounts to a tax on muni bonds and would result in higher borrowing costs for issuers as well as a huge drop in value for existing munis, the coalition, Municipal Bonds for America, warned Friday.
Murray sounded like she would strongly support a proposed cap, market participants worried.
On her My Budget site, Murray asks members of the public to share their stories and ideas as well as comment on their budget priorities. Anyone who comments is required to provide their name, the city and state where they live, and their email address.