Treasury Department

New York Gov. Andrew Cuomo sent letters to the Internal Revenue Service and to Treasury's Inspector General for Tax Administration threatening litigation and and asking for a probe of alleged undue political interference.

Congress could pass legislation authorizing advance refundings and liberalizing private activity bond restrictions to aid in disaster recovery, NABL said.

The proposed Treasury rules would limit states' use of charitable deductions as workarounds for the $10,000 cap on the federal deduction for state and local taxes.

The Trump administration’s effort to publish a proposed rule comes just over two months after the IRS announced May 23 it was working on the regulations to enforce the $10,000 cap on what previously was an unlimited personal deduction of state and local taxes, also known as SALT.

Newly issued Treasury securities held in stripped form increased about $1.584 billion in July.

The Public Employee Pension Transparency Act (HR 6290) would prohibit states and localities from issuing tax-exempt bonds unless they file annual reports on their public pension systems to the U.S. Treasury Department.

Rep. Bill Shuster's infrastructure discussion draft would temporarily raise federal fuels taxes for the ailing Highway Trust Fund while a newly created commission would determine how to ensure its long-term solvency.

The new service will save dealer firms time and effort as they enter into muni underwriting syndicates.

The federal government ran a $74.9 billion deficit in June, the Treasury Department reported Thursday.

Bradley Wendt, a former investment banker with extensive experience in municipal bonds, interest rate swaps, and other fixed income products, joins Treasury's Office of Domestic Finance.