Tax

The Senate advanced the One Big Beautiful Bill Act through a procedural vote, opening the legislation for debate followed by Monday's vote-a-rama.

Working out the differences between the Senate and House budget bills might result in lawmakers reaching for ways to pay for extending tax cuts and finance new programs which could put tax-exempt munis back on the negotiating table.

Senator Joni Ernest has reintroduced the Modernizing Agricultural and Manufacturing Bonds Act, long- simmering bipartisan legislation backed by the CDFA and BDA.

Attorneys and muni advocates are concerned as the Senate reviews the budget reconciliation process against the "Byrd Rule."

Indiana's Senate Enrolled Act 1 raises questions about local income tax-backed bonds, appearing to lack protections for bondholders as currently written.

The $247.75 million of unrated tax-exempt bonds will finance public infrastructure and projects for an initial development on state-owned land.

Oregon's Senate president altered the make-up of the transportation committee to get the massive tax bill passed.

The Internal Revenue Service and the University of Rhode Island appear to have settled an inquiry by the agency regarding the tax status of higher education facility revenue bonds issued in 2018.

Housing advocates are cheering the Senate's embrace of expanding Low Income Housing Tax Credits which ensures a volume increase and reduces a key bond threshold test.

As the Senate Finance Committee works on the the reconciliation puzzle, attorneys, accountants, and doctors are lobbying for keeping the pass-through exemptions that provide a workaround to the cap on state and local taxes in place.