Municipal bond advocates are pressing lawmakers to preserve their tax exempt status.
The Municipal Bonds for America Coalition (MBFA) organized a fly-in lobbying day on Tuesday, where advocates met with congressmen and senators to “discuss the benefits of municipal bonds.”
More than 50,000 state and local governments rely on municipal bonds to finance the construction of new roads, bridges, and schools, according to MBFA.
But they are concerned that the tax exempt status of the $3 trillion industry may be under threat.
“As conversations about tax reform continue, we want to be out in front, talking about the issue and why this exemption is important,” said Samantha DeZur, spokeswoman for MBFA.
“We want to make sure they understand how important municipal bonds are to state and local governments,” she added.
Groups participating in the lobbying day include the American Public Power, American Public Transportation Association, Bond Dealers of America, Council of Development Finance Authorities, Investment Company Institute, Large Public Power Council, National Association of State Treasurers, National Council of State Housing Agencies, and National Development Council.
The Hill
By Tim Devaney – 07/21/15 03:57 PM EDT