Congressional Correspondence

Final Hultgren Ruppersberger Municipal Bond Letter.pdf   1.53 MB   1 version
Uploaded - 07-11-2015
April 14 - Congressmen Hultgren (R-IL) and Ruppersberger (D-MD) sent a letter signed by 124 House members to Speaker Boehner and Minority Leader Pelosi expressing opposition to proposals, including that in the President’s 2016 budget proposal, that would eliminate or cap the deduction on tax-exempt municipal bonds. APGA is extremely concerned that placing a cap on deductions and exemptions that would limit the value of the municipal bond exemption would drive investors out of the municipal bond market, thereby forcing states, local governments, as well as public gas systems, to offer higher rates to sell their bonds which would ultimately raise borrowing costs significantly for communities. Read the letter here.