Reported 1 day ago
Stephen Moore, an informal adviser to former President Trump, has suggested eliminating the federal tax subsidy for municipal bonds, raising concerns among local governments, bankers, and investors. The tax exemption, which costs the government about $40 billion annually, is crucial for the municipal bond market, enabling cities and other entities to borrow at lower rates and funding essential infrastructure. Moore claims that removing this subsidy could help offset the costs of tax cuts but acknowledges potential political pushback against such a measure.
Source: YAHOO