Tax-exempt bonds

Richard Neal, D-Mass., raised optimism among state treasurers that advance refunding of municipal bonds may be part of "a combination of funding sources."

None of the 12 recommendations require congressional action and all are within the scope of the administrative powers of the IRS, according to NABL.

The U.S. Court of Appeals for the District of Columbia ordered a district judge to review four documents totaling 16 pages in an IRS Office of Professional Responsibility case file for possible release under the federal Freedom of Information Act.

The municipal bond industry received no indication from Trump on whether his administration might support expanded use of tax-exempt bonds as part of infrastructure legislation this year.

The National Association of State Treasurers wants Congress to know its top priority is preserving the muni tax exemption.

GFOA’s goal is to get a majority of House members to sign a letter pledging not to touch the tax exemption as they debate new infrastructure funding proposals.

Rep. John Yarmuth of Kentucky wants to end automatic across-the-board budget cuts that include a reduction in the subsidy for direct-pay Build America Bonds.

The legislation would leverages $8 billion in federal investment into $226 billion worth of bond authority over the next 10 years.

It’s unclear if monthly federal subsidy payments on Build America Bonds will be made.

The Federal Register publication of the finalized PAB regulation takes effect April 1, but part of it can be implemented by issuers immediately.