On August 9, 2024, NAST sent this Statement for the Record to the Senate Finance Committee in response to their July 30 hearing entitled Tax Tools for Local Economic Development. In the hearing, Chair, Senator Ron Wyden (D-OR), mentioned his concerns that key financing tools like tax-exempt bonds and private activities bonds could be at risk as Congress looks to make changes to the tax codes in 2025 as the provisions of the Tax Cuts and Jobs Act expire. The statement from NAST highlights the benefits of tax-exempt bonds as well as urges Congress to reinstate the ability for municipal issuers to utilize tax-exempt advance refunding.
A Network of the National Association of State Treasurers
