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U.S. President Barack Obama's budget proposal caps the value of the tax exemption for interest paid by municipal bonds.
(Published Apr 10, 2013)
The cap would increase borrowing costs for local and state governments that use the bonds to finance bridges, roads and other capital projects. Click here for more information about the proposal.
The National League of Cities and the League of Minnesota Cities shared concerns about the impact that altering the tax treatment of municipal bonds would have on the ability of cities, counties, and states to manage their finances and invest in the future by encouraging legislators to sign a letter to President Obama. For background of the League's efforts to keep municipal bonds tax-exempt, please see this article in our Cities Bulletin.
Questions? Contact Gary N Carlson at email@example.com or at (651) 281-1255.
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