Today the BDA submitted a statement, available [here], to the House Ways and Means tax reform working groups on Debt, Equity and Capital (Reps. Marchant (R-TX) and McDermott (D-WA)); Financial Services (Reps. Smith (R-NE) and Larson (D-CT)); and Charitable and Exempt Organizations (Reps. Reichert (R-WA) and Lewis (D-GA)).
A final Joint Committee on Taxation report will be delivered to the Ways and Means Committee on Monday, May 6, and will include stakeholder comments, such as BDA’s statement.
The testimony highlights the dangers of imposing a limit on the interest exemption for municipal bonds, and of entirely replacing tax-exempt bonds with direct-pay or tax credit bonds. It also cautions against federal infrastructure banks, and recommends increasing the limit from $10 million to $30 million for bank-qualified bonds.
Please follow and like us:
