Increased Costs of Municipal Financing

Unintended Consequences of the Tax Cuts and Jobs Act

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.

Update on Municipal Bonds

HQLA; Tax Exempt Munis May Still Be At Risk

  • 23 March 2018
  • Author: Aindriu Colgan
  • Number of views: 422
  • 0 Comments
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.

Online Sales Tax Update

Congress Remains Stalled

  • 22 March 2018
  • Author: Aindriu Colgan
  • Number of views: 362
  • 0 Comments
Despite a strong last minute effort, Rep. Kristi Noem (R-SD) did not succeed in getting her Remote Transactions Parity Act (RTP) into the omnibus package passed today by the House and expected to be passed by the Senate by Friday.

Tax Extenders Face Scrutiny at Ways and Means Hearing

  • 15 March 2018
  • Author: Aindriu Colgan
  • Number of views: 389
  • 0 Comments
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.

IRS Issues Additional Partnership Audit Guidance

  • 5 February 2018
  • Author: Aindriu Colgan
  • Number of views: 370
  • 0 Comments

As part of their ongoing implementation of the partnership audit system created by 2015's Balanced Budget Act, the IRS has again released guidance on how partnerships can pay adjustments after an audit.


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TFG Ranked Among 2023 Highest Performing Lobbying Firms

BGOV rated TFG as one of the highest performing and standout lobbying firms in 2023.

WASHINGTON, D.C. – For the third consecutive year, Bloomberg Government (BGOV) has ranked TFG among the highest performing lobbying firms in 2023. In the latest metrics released by BGOV, a leading provider of government intelligence, BGOV also classified TFG as a standout firm. The recognition underscores TFG’s exceptional track record in advocating for its clients' interests and achieving tangible results in the complex landscape of public policy. This recognition also showcases the depth of TFG’s experience and strong relationships with officials and staff in the Administration and in Congress.

TFG emerged as a top lobbying firm based on key performance indicators such as growth in revenue, growth in average revenue per client, short- and longterm customer retention rates, and revenue per registered lobbyist. The report, available here, showcases TFG’s ability to effectively navigate the legislative landscape and drive meaningful change for its clients.

TFG's outstanding performance is rooted in its ability to develop tailored strategies, provide insightful analysis, and effectively communicate clients' positions to policymakers.

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