WASHINGTON – The Trump administration wants its tax reform plan to both empower state and local governments to have more control over local infrastructure financing while doing no harm to tax exemption for municipal bonds, a White House official said in a Wednesday meeting with the Municipal Bonds for America coalition.

Members of the coalition were not given any details of how that would be accomplished, according to MBFA Director Justin Underwood, who attended the meeting. But President Trump, speaking in Cincinnati, said state and local governments would have to match federal funds for infrastructure projects.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.