Muni-Bond Tax Exemption Backed by 138 Members of Congress
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More than a hundred members of the U.S. House of Representatives are pressing to keep the century-old tax exemption on income from state- and local-government bonds, saying measures to roll it back would push added costs to municipalities.
The letter, signed by 138 lawmakers from both parties and sent to two top House leaders yesterday, cited “serious concerns” about proposals to eliminate or limit the exemption, according to a copy released by Municipal Bonds for America, a group lobbying to protect the tax break.