Congressman Dutch Ruppersberger of Maryland’s 2nd Congressional District has taken the lead on the tax-free municipal bond issue currently being debated in Congress. MACo raised the issue with the Congressman on behalf of Maryland counties in a letter to the Congressman and other members of the Maryland congressional delegation in April.
Congressman Ruppersberger has written a “dear colleague” letter seeking the House leadership’s support on the issue. The letter is jointly signed by Congressman Randy Hultgren (R – Ill). From the letter,
For more than a hundred years, the projects that keep our communities strong an vibrant have largely been financed through municipal bonds that enjoy tax-exempt status. These bonds have financed more than $1.9 trillion in infrastructure construction in the last decade alone, mostly financing the construction and refurbishment of schools, hospitals, airports, water and sewer lines, public utilities, roads, and other transit projects. These projects aren’t optional for the communities they serve, and neither is our obligation to protect the tax-free status of the bonds used to build them.
Congressman Ruppersberger served as MACo President in 1996.
For more information on this topic, read the Congressman’s letter, and these previous posts on Conduit Street: