At a meeting I participated in with the staff of Congressman Randy Hultgren from Illinois, Co-chair of the House Municipal Finance Caucus, two important analyses were discussed which are worth circulating.
First, Citi has an excellent critique of the recent Tax Foundation report critical of muni bonds which I circulated and was the subject of my interview in the Bond Buyer. It deals head-on with some of the basic criticisms of TEB’s and we all should have it in our arsenal.
Second, I was reminded of an earlier CBO study which indicated that infrastructure spending is one of the top options for immediately accelerating job and economic growth. This, of course, is consistent with our national study of nonprofit bonds and the studies many of you have done on a state basis.
Please let me know if you have any questions or comments. Of note, there is a focus by the muni bond community at this point in supporting legislation to reverse the restrictions on money market funds that have resulted in the closing of tax exempt bond funds. I've seen lists of the holdings of these funds and they include a number of our bonds. We are supporting the effort although it mainly affects state and local governments for which the bonds are not just a source of investors but also a place to invest themselves on a short-term and flexible basis.
First, Citi has an excellent critique of the recent Tax Foundation report critical of muni bonds which I circulated and was the subject of my interview in the Bond Buyer. It deals head-on with some of the basic criticisms of TEB’s and we all should have it in our arsenal.
Second, I was reminded of an earlier CBO study which indicated that infrastructure spending is one of the top options for immediately accelerating job and economic growth. This, of course, is consistent with our national study of nonprofit bonds and the studies many of you have done on a state basis.
Please let me know if you have any questions or comments. Of note, there is a focus by the muni bond community at this point in supporting legislation to reverse the restrictions on money market funds that have resulted in the closing of tax exempt bond funds. I've seen lists of the holdings of these funds and they include a number of our bonds. We are supporting the effort although it mainly affects state and local governments for which the bonds are not just a source of investors but also a place to invest themselves on a short-term and flexible basis.
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