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As you know, both corporate and individual tax rates were reduced in last year’s Tax Cuts and Jobs Act. Lower tax rates make tax-exempt vehicles like municipal bonds less attractive to both corporate and individual investors; with lower tax rates, they have less incentive to look for tax-exempt investments. Reduced demand for municipal bonds and other tax-exempt investment vehicles like private activity bonds (PABs) means that cities will have to increase the interest rates on new bond issues in order to attract investors.
With the omnibus having been passed by Congress, substantive legislative work will wind down until after the elections in November. There are, however, a few outstanding tax/financial issues to note.
Yesterday, the House Ways and Means Subcommittee on Tax Policy held a seven-hour, 4 panel hearing on the fate of tax extenders—temporary tax extenders like those for biofuels or short-line railroads. While they were just extended retroactively for 2017, they have again expired and currently are not available for 2018.
Congress has officially passed H.R. 1, the Tax Cut and Jobs Act. After making a few last minute changes to accommodate Senate rules and procedures, Senate Republicans passed the bill Tuesday night along party lines, 51-48. Today, the House passed the bill with those changes by a vote of 224-201.
Executive Orders and Presidential Memoranda Issued by the Trump Administration (Post #5)
Since our last post on March 1, President Trump has issued 15 more Executive Orders and Presidential Memoranda. Click the link below for summaries of each action.
Executive Orders and Presidential Memoranda Issued by the Trump Administration (So Far)

The TFG blog will be posting weekly entries to keep track of all Executive Orders and Presidential Memoranda (collectively “executive actions”) issued by President Trump. As of today (1/25), the Trump Administration has issued 12 executive actions. Click the link below for summaries of each action.

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