With the Tax Cuts and Jobs Act set to expire at the end
of 2025, it’s likely that Congress will debate tax reform next
year regardless of the outcome of the election. There has been
some
recent
coverage on the potential for lawmakers to try to eliminate
the tax-exempt status of municipal bonds as part of a revenue
offset during tax reform negotiations.
NACo and the Government Finance Officers Association (GFOA)
are working to counter those efforts by highlighting the value of
tax-exempt municipal bonds. As part of those efforts, GFOA
launched the ‘Built
by Bonds’ initiative to create a nationwide
map of critical infrastructure projects financed by
tax-exempt municipal bonds. GFOA is seeking submissions of
infrastructure projects financed by tax-exempt municipal bonds
and created a webpage with
a simple form to submit projects.
Submissions to this effort could help ensure that members of
Congress recognize the value of tax-exempt municipal bonds.
Although there is no explicit deadline to submit projects, the
organizers encourage submissions as soon as possible to better
prepare for policy fights ahead.
