Bernardi in MuniNet Guide on Municipal Bond Tax Exemption
Ronald P. Bernardi was quoted in a 1/8/14 article on MuniNet Guide regarding municipal bond tax exemption:
As Congress debates the future of tax exemption for municipal bond interest, one industry professional says it’s time for those whom it will directly affect – state and local government officials, taxpayers and citizens – to speak up.
In a recent report entitled, “A Century of Tax-Exempt Municipal Bonds: The Good, the Bad and the Ugly,” Ronald Bernardi, president and CEO of Bernardi Securities, Inc. says, “If these collective voices go unheeded, rest assured, the financial necks of towns, cities, villages, counties, school, water, sewer and park districts across the country will be snug in a noose ….”
Bernardi highlights the many benefits of the tax-exempt bond market (“the good”) – from providing a low-cost financing vehicle for state and local governments to creating jobs for local citizens, investment in public purpose infrastructure projects, and ensuring local input and control over community projects.
He also addresses the major criticisms of municipal bond tax exemption (“the bad”) and the challenges that state and local governments would likely face if tax exemption is repealed (“the ugly”).