Muni Think

The U.S. Congress is considering eliminating the federal tax exemption for municipal bonds, the single most important financing tool for cities and towns across America. If they do, the cost of building and maintaining infrastructure — roads, bridges, schools, water systems, and even broadband networks — will skyrocket.

Future generations will benefit if we don't give up on breakthroughs in medicine or energy. That's why research Trump is cutting should be funded with bonds.

The Federal government's long-term budget challenges could mean dramatic changes for hospitals and health systems nationwide, derailing the post-COVID credit recovery that helped turn the healthcare sector into the fastest-growing segment of the municipal market in 2024.

As state and local governments are charged with funding 3/4ths of the country's infrastructure, the catastrophic wildfires in Los Angeles highlight even more the municipal bond market's vital role in keeping the U.S. competitive globally and maintaining the heart of fiscal federalism at home.

From threats to the tax exemption to state budget challenges and tariffs to insurance risks, this year is already shaping up to be the previous one's equal in sheer excitement.

Unfortunately, a vocal minority believes eliminating the longstanding tax exemption on local, state, and municipal bonds is one way to pay for extending tax cuts.

Data-driven local governments and other public agencies might sound like a complex subject or something difficult to attain, but that could not be further from the truth.

The legislative reconciliation process will move fast and cutting the budget is in vogue. As such, we must recalibrate our goals as an industry to reflect the new political paradigm.

Redevelopment 3.0 should focus on providing a permanent, reliable source of equity with which to build a sustainable pipeline of affordable housing projects.