Tax-exempt bonds

The industry for years has lobbied Congress and the Treasury Department to make the changes, but the issue has taken on more urgency amid a data center boom that promises to transform the U.S. energy landscape

Yakym praised the successful effort to preserve the tax exemption throughout One Big Beautiful Bill negotiations and encouraged market advocates to keep lobbying lawmakers.

How Congress and the Trump administration navigate the next several months carries implications for municipal issuers and investors.

The House oversight subcommittee hearing was titled "Virtue Signaling vs. Vital Services."

The memo, which was sent to members of Congress, recommends a second round of reconciliation that would include the repeal of the municipal bond "tax exclusion."

Market participants launched the largest lobbying effort in recent memory to protect municipal bonds and got what they wanted as the tax-exemption survived.

The megabill now heads to the House, where Speaker Mike Johnson said a vote could come as soon as Wednesday.

The guidance comes as the tender market has grown from zero to $48 billion since 2019.

The Senate needs 51 votes to pass the bill, which has already sparked opposition from moderate and conservative Republicans.

The bill would exempt lead service line replacement projects from the IRS' private business use test.

The hard-fought increase to the cap on state and local tax deductions that was instrumental to passing the House GOP tax bill is under fire in the Senate.

The Metropolitan Washington Airports Authority is pricing $714.4 million worth of airport system revenue and refunding bonds on Thursday as part of a scheduled sale with an uncertain demand.

The Internal Revenue Service has been erroneously sending out notices to tax exempt bond holders informing them about incorrect signatures on their Form 8038s.

The Senate will likely revise the House bill, which left tax-exempt bonds untouched after months of speculation.

At a Bond Buyer conference in Atlanta, industry leaders talked about tariff turmoil, the tax-exemption, weather resiliency, infrastructure and more. 

The full legislative package could land on the House floor as soon as next week.

The tax bill is far from a done deal, market participants said.

The Ways and Means Committee is expected to release the full text, including revenue raisers, ahead of a Tuesday hearing.

The municipal bond market may soon get its first glimpse of hotly anticipated tax legislation.

The Commercial Metals Company and the West Virginia Economic Development Authority took a chance by coming to market with a tax-exempt $150 million junk-rated private activity bond sale financing a scrap metal steel mill during uncertain times for the construction industry.