Tax

President Biden had pledged to end the law that excludes residents of Puerto Rico from the federal supplemental security income program.

Two major pieces of President Joe Biden's domestic agenda, which carry implications for the municipal bond market, advanced in the House Friday.

The municipal bond market is closely watching proposals from the House and the Senate to overhaul the SALT federal deduction cap.

"Compromises had to be made," Neal said about muni market proposals being dropped from the Build Back Better agenda.

Key institutional players like banks and insurance companies may have less incentive to buy tax-exempt munis if the provision becomes law.

The SALT deduction cap could be increased, suspended or repealed.

Louisiana voters will decide Nov. 13 on constitutional amendments that affect how income taxes are calculated and sales taxes are collected.

The tax on unrealized capital gains would be straightforward for securities that trade frequently, but less so for less-frequently traded assets like many munis.

Two issuers, the San Diego County Regional Airport Authority and the Village of Franklin Park, Illinois, have disclosed in the past week that they’re under audit by the Internal Revenue Service.

Tax-exempt bonds are a very different area of the law.