Tax

The city has succeeded in defending the tax-exempt status of a series of bonds issued in 2013 against IRS claims that they should be retroactively taxable.

The legislation would allow tax-exempt financing for the replacement of privately owned lead service lines.

Transportation advocates remain opposed to the legislation and the Biden Administration has not taken a position.

The president touted the benefits of last year's Bipartisan Infrastructure Law and American Rescue Plan Act during his first State of the Union address.

States have appropriated 72% of the ARPA funds they have received so far and many state legislatures are developing plans to spend the rest.

Sponsors of the Supporting American with Lower Taxes Act see it as a potential compromise on the contentious state and local tax deduction cap issue.

A bill to prevent tax-exempt financing of professional sports stadiums may become part of a larger tax bill, as further discussions to revive some muni provisions may begin this year.

The proposal would offset all gas tax losses to the Highway Trust Fund but would still hasten its insolvency.

A new report from Merritt Research Services looks at potential post-pandemic problems for big cities that rely on taxes from commercial real estate.

Issuer groups have sent a letter to the Internal Revenue Service requesting remote hearings be made permanent in connection with the issuance of private activity bonds as many issuers still grapple with remote working and ongoing COVID-19 concerns.

The think tank seeks papers with a focus on research related to the impact of COVID-19 on public finance, innovations in funding infrastructure and threats posed by climate change.

The revised form is a step in addressing the massive backlog of paper Form 8038-CPs that were built up as a result of COVID-19 related shutdowns.

With an insolvent Highway Trust Fund, alternatives to the federal fuel tax are more important than ever.

Democrat-leaning states argue that the $10,000 SALT cap deduction is politically motivated and violates the U.S. Constitution.

The complaint, targeting Louisiana’s complex sales tax collection system, comes after voters rejected a constitutional amendment to simplify local sales and use tax collection.

The Internal Revenue Service and Treasury Department have a number of important updates for the muni market in 2022.

Industry advocates want to preserve allocation of private activity bonds to the states and help Congress understand the benefits of advance refunding.

The framework that will guide federal transportation strategy in the coming years does not currently include any financial goals or objectives.

Following the departure of Devin Nunes as the top Republican slated to succeed the retiring Kevin Brady on the Ways and Means Committee, several Republicans have begun campaigning for the top spot, which could hold considerable influence over the municipal bond industry if Republicans take the House in 2022.

States could be forced to return stimulus aid if the Treasury Department finds the funds were used to offset tax cuts.