Federal Advocacy
Federal Advocacy
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Federal Tax Reform 2025
2025 is shaping into a pivotal year for tax reform in Congress, as several major tax provisions are set to expire. The 2017 Tax Cuts and Jobs Act—representing the most significant overhaul of the tax code in three decades—is up for potential extension.
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Advance Refunding Issuance
Advance refundings represented 27% of municipal bond market activity in 2016 and 19% in 2017. Additionally, the TCJA decreased the overall corporate tax rate from 35% to 21% and eliminated other tax incentives that could impact overall demand for municipal bonds.
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Tax-Exempt Municipal Bonds
Learn MoreWe remain concerned that the threat of elimination is still prevalent as the tax reform debate gets underway. If state and local governments lose the ability to use tax-exempt bonds and are compelled to issue taxable bonds as an alternative, the increased costs would have a crippling effect on infrastructure, community services, and households in general.
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Bank Qualified Municipal Bonds
Bank-qualified bonds were created in 1986 to encourage banks to invest in tax-exempt bonds from smaller, less-frequent municipal bond issuers, and to provide municipalities with access to the lower cost borrowing that they need in order to provide services and invest in schools, roads, bridges and other projects.
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Track Federal Award Obligations & Outlays
While USASpending.gov is maintained by the Department of the Treasury (Treasury) Bureau of the Fiscal Service and serves as the official source for the U.S. Government, we've put together a tracking guide for members.
Implementation Resources
