The BDA has submitted written comments to the House House Ways and Means Tax Policy Subcommittee in support of fully reinstating tax-exempt advance refundings and expanding the use of private activity bonds (PABs). The comments can be viewed here.
The comments were submitted in response to a recent hearing titled, “Tax Reform and Small Businesses: Growing Our Economy and Creating Jobs”. Specifically, BDA’s comments focused on three tax policy goals that Congress must pursue if it is to ensure capital is readily available for priority projects:
- Continue the tax-exemption for interest paid on bonds issued by state and local governmental entities.
- Restore the ability of state and local governments to save taxpayer dollars and generate additional funds for infrastructure and other key initiatives by restoring tax-exempt Advanced Refundings (ARs).
- Expand the use of tax-exempt Private Activity Bonds (PABs).