On Tuesday, July 26th at 8pm (EST) Columbia, SC Mayor and MBFA Chairman Steve Benjamin is slated to speak on behalf of the U.S. Conference of Mayors at the Democratic National Convention Committee (DNCC). Additionally, the Democratic Party released their platform which includes a section entitled “Building 21st Century Infrastructure.” You can read more about it here.
Specifically, the party’s platform includes three infrastructure-related provisions related to bonds, including:
- Support for municipal bonds: Democrats will continue to support the tax exemption for interest earned on municipal bonds
- Support for Build America Bonds (BABs): Democrats will work to establish a permanent provision for BABs
- Support the creation of an infrastructure bank: Democrats will create an independent, national infrastructure bank to support critical infrastructure improvements
It should be noted that the statements within the Democratic Platform are very broad and generally do not include a detailed plan for legislative action.
The MBFA will continue to engage with both political parties to advocate for the preservation of the tax-exemption for municipal bonds and stress caution for the implications of proposals that limit or eliminate the tax-exemption before the November election.
We hope this information is helpful. For further information on MBFA or issues raised in this update, please contact [email protected].
Municipal Bonds For America | [email protected] | http://www.munibondsforamerica.org/
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