Lawmakers Fight to Save Tax-Exempt Bonds in GOP Tax Bill

Nov. 8, 2017

Lawmakers on both sides of the aisle are fighting to save tax-exempt bonds in the GOP tax bill that are used to finance infrastructure projects around the country.

In a bipartisan letter on Tuesday, more than 150 members of Congress called on House leadership to keep the deduction on tax-exempt municipal bonds, which are considered a critical tool for public-private partnerships and infrastructure rebuilding efforts.

Under the GOP tax bill, interest on newly issued private activity bonds would no longer be tax-exempt. Eliminating the program would save $38.9 billion, according to a summary sheet.

Read more: http://thehill.com/policy/transportation/359260-lawmakers-fight-to-save-infrastructure-financing-tool-in-gop-tax-bill