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: 418
  • 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: 361
  • 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: 386
  • 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: 365
  • 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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Alex Yiannoutsos

Introducing the Infrastructure Funding Bulletin Podcast


This edition of the Infrastructure Funding Bulletin provides information about recent federal infrastructure developments that may impact local and regional planning efforts, and is designed to help local governments, special districts, utilities, associations, and nonprofits better understand new opportunities and administrative changes affecting infrastructure funding and policy.

In this episode, we explore:

Great Lakes Sediment and Nutrient Reduction Program (GLSNRP) – A focused funding opportunity aimed at improving water quality through conservation practices and watershed-based projects.

Updates to NEPA Regulations – A summary of recent administrative changes to federal environmental review processes, and what those changes may mean for permitting across agencies.

FEMA’s BRIC Program Announcement – An overview of FEMA’s decision to cancel FY2024 BRIC funding and the potential implications for resilience and hazard mitigation planning.

TFG’s goal is to provide fact-based insights to support informed decision-making. With decades of experience helping communities navigate federal funding and policy, we offer this deep dive as an additional resource to help you stay current and proactive.

Resources:

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Introducing the Infrastructure Funding Bulletin Podcast 17 April 2025

Introducing the Infrastructure Funding Bulletin Podcast

Introducing the Infrastructure Funding Bulletin Podcast: a bi-weekly deep dive into federal infrastructure policy, funding, and regulations relevant to communities.

Meet a Team Member

Courtney Miller

Courtney Miller

Senior Associate

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