Tax

The city of Mobile, Ala., has agreed to pay an undisclosed sum of money to the Internal Revenue Service to maintain the tax-exempt standing of $63.4 million of general obligation refunding and improvement warrants it issued in 2006.

Issuers, borrowers, and MAs disagree that they violated state and local government series securities (SLGS) rules.

President-elect Donald Trump’s ambitious infrastructure plan and proposed widespread tax cuts will require issuers to adjust to a changing economic climate to maintain credit stability, S&P Global Ratings said Monday.

Donald Trump's plans to dismantle the Dodd-Frank Act and impose a moratorium on new regulations could affect the municipal bond market.

The stage for is set for historic tax reform that could imperil the tax exemption for municipal bonds.

Republicans’ sweeping victories of the White House and Congress set the stage for historic tax reform and increased spending on infrastructure next year, but imperil the tax exemption for municipal bonds.

A $28 million bond transaction using a unique form of tax increment financing to raise funds for a development district in Prince Georges County, Md. recently won an award by Council of Development Finance Agencies.

A Democratic takeover of the Senate, as has been predicted by some polls, could mean good news for tax reform as well as maintaining the tax exemption of municipal bonds, according to several muni market participants.

Hillary Clinton’s tax plan would benefit munis more than that of Donald Trump’s due to its proposed bump in individual income taxes, according to a recent analysis by Neuberger Berman.

The Treasury Department and Internal Revenue Service may rethink and re-propose controversial political subdivision rules, but will wait until next year to see what the next administration wants to do with them, a tax regulator told lawyers meeting in Chicago.

The Internal Revenue Service's Office of Tax-Exempt Bonds has told its auditors that, if an issuer redeems 100% of the outstanding principal amount of its tax-exempt or tax-credit bonds, the audit can be closed without further TEB action.

The former head of the Internal Revenue Service's tax-exempt bond office says TEB is ignoring alleged violations on a financing for a Syracuse mall that benefited from breaks sought by Hillary Clinton.

The tax exemption of municipal bonds, issue price, political subdivisions and disclosure top the agenda of the National Association of Bond Lawyers for the coming year, according to Cliff Gerber, who becomes NABL president on Oct. 19.

As the presidential campaigns have become increasingly focused on personality and name calling, municipal finance pros are begging for more defined infrastructure spending plans and clarity on how the muni tax exemption will fare in the event of tax reform.

Tax credit bonds can be an attractive alternative to municipal bonds during sluggish or uncertain economic periods, according to a report issued this week by the Congressional Research Service.

Hillary Clinton’s tax plan would increase federal revenue by $1.4 trillion over 10 years, reining in federal debt increases, while Donald Trump’s plan would increase the federal debt by $7.2 trillion, according to the Tax Policy Center.

Infrastructure plans proposed by Hillary Clinton and Donald could cost anywhere from $300 billion to $600 billion, according to a recent report by the Committee For A Responsible Federal Budget.

Democrats in the Senate and House have introduced separate bills to raise limits for both tax-exempt small issue manufacturing bonds and highway or surface freight facility bonds.

The District of Columbia has paved the way for construction of a $300 million stadium for Major League Soccer's D.C. United by handing over land in Buzzard Point to the team.

The next president must maintain the tax exemption for municipal bonds -- the “bread and butter” of infrastructure financing -- or risk costing cities up to $500 billion, a group of mayors recently told Republican and Democrat campaign representatives.