Halting tax-exempt advance refundings at the end of the year, as proposed by both pending tax bills, would increase issuers’ costs, deprive them of savings for new projects, and push some to enter into swaps that could increase their risk.
The SEC went into its expanding toolbox to bring fraud charges against Oyster Bay, N.Y., and its former top elected official for hiding the existence and potential impact of side deals with a businessman.
The impact of tax reform is on the minds of all participants in the municipal bond market. The Bond Buyer’s Washington Bureau Chief Lynn Hume joins Contributing Editor John Hallacy in breaking down what the House and Senate plans will mean for state and local governments as well as the effect it will have on underwriters and dealers, bond counsel and financial advisors. They discuss what’s next in the legislative process and what the realistic chances are of having a tax bill before year end.