As Congress and the White House continue to discuss federal tax reform and budget deficit reduction proposals that would repeal the tax exemption or replace it with a cap on investor deductions, GFOA is working closely with its state and local government association partners to educate Congress about the need to preserve this critical public financing tool. However we need your help in conveying this message!
GFOAs Federal Liaison Center has developed a suite of advocacy materials to assist you in your outreach to your federal elected leaders to protect the exemption. These materials include talking points, draft letters to Senators and members of the House of Representatives and the White House, a draft resolution that state and local elected bodies can approve and share with their federal delegations and a draft Op-Ed. Please work with your state and local elected bodies to use these materials and share them with your federal elected leaders today! Please also share any formal correspondence you send to your federal electeds on this issue with GFOA's Federal Liaison Center.
Beyond these resources GFOA has also worked with the U.S. Conference of Mayors, National League of Cities and National Association of Counties to develop a series of reports highlighting the exceptional productivity of the tax exemption, and discussing the many compelling reasons to maintain this long-standing and critical component of the federal tax code. These reports include:
- Protecting Bonds to Save Infrastructure and Jobs 2013 (2/27/13)
- A County Perspective on Changing the Tax-Exempt Status of Municipal Bond Interest (6/17/13)
You can also view the tax exemption preservation resources that the National League of Cities, National Association of Counties, U.S. Conference of Mayors and National Governors Association have available on through the links below.