Tax

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The SALT deduction cap could be increased, suspended or repealed.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

The Internal Revenue Service’s Tax Exempt Bond program will not be significantly overhauled as part of the agency’s restructuring and modernization efforts, officials say, but there are a few changes to forms and procedures that bear paying attention to.

Another correctional facility avoids a private business use tax penalty.

The National Association of Bond Lawyers' new president intends to focus the group's efforts and provide support for infrastructure legislation in Washington.

Per-pupil revenues and long-term debt spending are rising across the country

The IRS extension allowing TEFRA hearings to be completed over the phone through March 31, 2022, might well be extended even more, tax lawyers say.

An agreement on the $10,000 limit on the federal deduction for state and local taxes is a priority for local governments.

KeyBanc Capital Markets priced tax-exempt bonds that will fund more than 300 units in Clayton County, Georgia, with the help of a Fannie Mae finance program.

Citi's muni strategy group had worried that a proposed 3% surcharge in the reconciliation bill would apply to tax-exempt interest, but now feels differently.

Tax exempt coupon income may be included in a proposed 3% high income surcharge in the reconciliation bill, Citi says

Friendly market provisions, including a direct-pay bond program and restoration of advance refundings, will head to full House after approval by Ways and Means Committee.

SALT relief was not part of the initial language in the reconciliation bill, but several moderate Democrats say they won't support the legislation without it.

Fitch analysts discussed the relationship between the soveriegn rating and state and local credits.