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AGC Signs on to Letter Calling for Protection of Tax Exempt Municipal Bonds

March 23, 2013
AGC and a diverse group of more than 55 national coalition partners representing state and local governments, housing and infrastructure developers, transportation groups and private industry, have urged the U.S. Senate to support the tax-exempt status of municipal bonds which local and state governments use to build America’s schools, hospitals, roads, bridges, airports, public transit, water systems and other essential public infrastructure. In a letter sent March 20 to Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.), the group expressed concern about language in the Senate Fiscal 2014 Budget Resolution which suggests the possibility of a cap being placed on tax expenditures which could include the exemption for interest earned on municipal bonds.  The groups are seeking assurance that the tax-exempt status of municipal bonds will not be changed as part of comprehensive tax reform. For more information, please contact Scott Berry at (703) 837-5321 or berrys@agc.org
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