On December 22, 2017, the President signed the Tax Cuts and Jobs Act (the “Final Bill”) into law, bringing an end to the nearly two-month rollercoaster ride that had the public finance industry white-knuckled and a little...more
2018 will be a year of monumental tax law changes following the recent approval by the House and Senate of the Tax Cuts and Jobs Act. President Donald Trump is expected to sign the bill into law in the coming days. While the...more
UPDATE: 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....more
With the termination of tax-exempt advance refunding bonds squarely in the crosshairs of the tax reform measures making their way through both houses of Congress, the municipal market needs to consider the impact of the loss...more
Introduced on November 9, 2017, the Senate Tax Bill would maintain private activity bonds (“PABs”). With this positive development, advocates will press Senate committee members to reverse their decision to terminate advanced...more
The Senate Finance Committee unveiled a section-by-section description of its tax reform package on November 9, 2017, including municipal bond provisions that reject efforts by the House Ways and Means Committee to terminate...more
Last week the House Republican leadership unveiled its much anticipated US tax reform bill. The bill proposes the most sweeping changes to the tax code in 30 years—since the 1986 Tax Act, which by the way imposed many of the...more
On November 9, 2017, the House Ways and Means Committee approved H.R. 1 -- the Tax Cuts and Jobs Act -- which now is teed up for approval by the full House of Representatives. A few hours later, Senate Finance Committee...more
On November 2, 2017, the Tax Cuts and Jobs Act (the “Bill”) was introduced in the United States House of Representatives and is currently before the House Ways and Means Committee. The Bill proposes both direct and indirect...more
• The Tax Cuts and Jobs Act introduced in the U.S. House of Representatives on Nov. 2, 2017 – now in markup by the House Ways and Means Committee – has a number of provisions that would likely have a negative impact on the...more
On November 2, 2017, the Committee on Ways and Means of the U.S. House of Representatives released its highly anticipated proposed tax reform legislation (the “Proposed Legislation”). The Proposed Legislation deals a severe...more
On November 2, 2017, the House Committee on Ways and Means released a draft of its Tax Cuts and Jobs Act (the “Tax Bill”). The Tax Bill proposes to eliminate the federal tax exemption of interest income from all private...more
On November 2, 2017, the “Tax Cuts and Jobs Act” was introduced in the House of Representatives. This act has immediate and far-reaching implications for tax-exempt finance. Among other things, the Tax Cuts and Jobs Act...more
The proposed Tax Cuts and Jobs Act released last week would eliminate the federal tax exemption for interest earned on all private activity bonds—including 501(c)(3) bonds and exempt facility bonds—and advance refunding bonds...more
On November 2, 2017, the Republican leadership of the United States House of Representatives introduced the Tax Cuts and Jobs Act (the “Bill”). The Bill would make significant changes to tax rules that apply to tax-exempt...more
The U.S. House of Representatives Republican tax bill released yesterday would impact state and local government issuers of tax-exempt bonds in a few significant ways. ...more