Tax

Refundings on the calendar for the week ahead spurred speculation that issuers may rush deals to market before they are banned by the GOP tax plan.

With a tax bill on the table that places the cost of tax cuts on the municipal finance market, the time to voice opposition is now.

Top-shelf municipal bonds were stronger on Friday around midday, as market participants were still going over the details of the GOP tax reform bill.

The municipal bond market is still chewing over the details of the GOP tax reform bill, and considering its implications.

Market participants reacted negatively to the proposal in the tax reform bill to eliminate advanced refundings and private activity bonds, saying it would crimp volume and the savings issuers can get when rates fall. In the primary, strong demand met a Virginia issuer's $737 million PAB.

Retail investors are overcoming concern over interest rates and tax reform by extending duration, upgrading to high-quality, and buying defensive premium bonds.

The bill, which calls for the elimination of advance refundings, private activity bonds, tax credit bonds, and tax-exempt stadium bonds, would shrink the municipal market despite preserving the tax-exemption on muni bond interest.

Rep. Richard Neal said Democrats will not have had time to review the House GOP tax reform bill.

A sales tax increase to pay for a Tazewell County jail is still being collected although the building was paid off in 2011.

Rep. Mike Kelly, R-Pa., plans to propose PABs for public buildings as part of tax reform

Republicans in California fail to join those in New York and New Jersey to protect SALT deduction.

New York and New Jersey House Republicans failed to attract sufficient allies Thursday in an attempt to preserve the SALT deduction.

Tax bill-writers may include keeping the deduction for property taxes.

Uncertainly remains over whether any changes will have a lasting impact, according to Jessica Giroux.

House Ways and Means Committee Chairman Kevin Brady wants a tax reform bill on Trump's desk by the year's end.

A fourth tax bracket would keep munis an attractive option for retail investors.

GFOA's federal liaison center director described the vote as “disappointing.”

The mayor's office said the survey by City Controller Alan Butkovitz, a soda tax opponent, wasn't impartial.

The $2 billion public-private partnership was put on hold after a federal judge issued an injunction.

Elimination of SALT would raise $1.3 trillion over 10 years to finance personal and corporate tax rate reductions.