Tax Reform’s Restrictions on Municipal Bonds
In the early morning hours of Saturday, December 2, 2017, the United States Senate, by a vote of 51-49, approved its version of H.R. 1, the Tax Cuts and Jobs Act of 2017, commonly referred to as the Senate's tax bill. The Senate bill, unlike the House's version, does not repeal private activity bonds. However, the Senate bill contains the repeal of the authorization for advance refundings that first appeared in the Chairman's Mark. The Senate and House are expected to attempt to reconcile the two versions this week in order to produce a single piece of legislation that must pass both chambers of Congress before finding its way to the desk of President. Read more >>
