GFOA

The government shutdown limits the SEC's ability to answer issuers' questions on continuing disclosure requirements that take effect Feb. 27.

Emily Brock, director of GFOA’s federal liaison center, said restoration of advance refundings and increasing the limit on bank qualified debt to $30 million also are among the legislative priorities for 2019.

Rep. Richard Neal, D-Mass., has pledged to ask mayors, governors and other municipal market advocates to testify at hearings early in 2019.

Massachusetts Democrat Richard Neal, friendly to the muni market, is likely to chair the critical Ways and Means Committee.

Democrats could attempt to revive Build America Bonds as part of a bipartisan infrastructure bill following their House victory.

Most state and local governments are concerned the ceiling will make it harder to raise taxes to pay for public services and infrastructure.

GASB is accepting comments through Nov. 2 on its proposal to clarify the definition of a conduit debt obligation.

House Republicans want to make permanent the $10,000 cap on state and local tax deductions and the lower tax rates for individuals, both of which are due to expire at the end of 2025.

Passage of tax legislation in the Senate would require a 60-vote supermajority because the legislation would add to the already burgeoning federal deficit.

States would be barred from starting to require the collection and remittance sales taxes from online vendors located out of state until next year under a bill introduced by two Republicans in the Senate.