On Wednesday, July 2nd, Ronald P. Bernardi, joined by Mayor Steve Benjamin, (Columbia, South Carolina) and Kevin Burke, (President and CEO, Airports Council International – North American) spoke at the Municipal Bonds for America Coalition’s panel discussion on Capitol Hill. The three panelists explained the importance of maintaining the tax-exempt status of municipal bonds in its entirety. The panelists noted that the tax-exempt status helps promote investment in our nation’s infrastructure, stimulates public and private investment in job creation and incentives investors to allocate funds to a historically safe asset class. Tax-exempt bonds are issued by over 50,000 state and local governments representing a three trillion dollar industry. In fact, 75% of our nation’s infrastructure is financed with municipal bonds. They went on to note that tax-exemption has historical precedents rooted in our nation’s federalist system and is a capital market that is envied around the world.
Link to Ronald’s remarks here
Link to MBFA’s summary here An Overflow Crowd Attends the Muni Bonds 101 Seminar
For more information, please visit the Municipal Bonds for America Coalition website.
To learn more about this topic, review our most recent municipal bond tax exemption research insights.