In disappointing news for local government leaders, last week as part of the Executive Budget recommendation, the President proposed a cap on the tax exemption on municipal bonds. This goes against the President’s call for an increase in our nation’s infrastructure investment, as the tax exempt status of these bonds helps facilitate infrastructure investment. According to the National League of Cities, if this cap would have been in place over the last decade, it would have cost local communities over $173 billion more for the same projects that took place. This new development makes communicating with your Congressional leaders all the more important. Please take time to reach out to them via an email, phone call or passing a resolution. You can find resources to communicate with your federal officials by clicking here. And, you can contact them by clicking here.
Summer Minnick is the Director of Policy Initiatives and Federal Affairs. She can be reached at 517-908-0301 or [email protected].