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Madison finance committee backs resolution to preserve federal tax exemption for municipal bond interest
Summary
The Madison Finance Committee unanimously adopted a resolution urging Congress to retain the federal tax exemption for interest on municipal bonds after a briefing from the Government Finance Officers Association on federal budget pressure and possible changes to the exemption.
The Madison Finance Committee unanimously adopted a resolution on May 27, 2025, declaring the city’s support for preserving the federal tax exemption on interest from municipal bonds after a briefing from the Government Finance Officers Association.
The resolution, introduced as Legistar 87963, was presented to the committee following a primer from Emily Brock, director of federal policy at the Government Finance Officers Association (GFOA), on how proposals in current congressional budget negotiations could target the tax exemption as a pay-for. The committee moved and seconded the resolution and recorded a unanimous vote in favor.
The exemption is a long-standing federal tax treatment that lets investors exclude interest from municipal bonds when calculating taxable income. Brock…
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