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Madison finance committee backs city resolution to protect federal municipal bond tax exemption
Summary
The Madison Finance Committee unanimously adopted a resolution putting the city on record in favor of preserving the federal tax exemption for interest on tax-exempt municipal bonds after a presentation from the Government Finance Officers Association on potential national budget proposals that could target the exemption.
The Madison Finance Committee on May 27 unanimously approved a resolution declaring the city's support for preserving the federal tax exemption on interest from tax-exempt municipal bonds, a financing tool local officials say underpins much public infrastructure investment.
The resolution, introduced as Legistar file 87963, puts the city "on record on this issue" and will be shared with the city's lobbyist and its congressional delegation, Finance staff said during the meeting.
Why it matters: The Government Finance Officers Association, represented to the committee by Emily Brock, director of federal policy, told members that congressional budget negotiations in 2025 could include proposals to reduce or repeal the municipal bond interest exemption as a…
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