A Pivotal Year Ahead: Legislative challenges and opportunities

The 2017 Tax Cuts and Jobs Act expire at the end of 2025, and taxes will rise automatically if Congress does not act. As the Trump administration and a new Congress take over, we will examine:

• How real is the threat to the tax exemption?
• What other scenarios may play out, such as the elimination of tax-exempt PABs or bonds for certain sectors like housing and healthcare, where Republicans look to the muni market for revenue to offset TCJA provisions?
• What effect will potential tariffs have on the industry?
• Will changes to immigration have an effect on state and local tax revenues?