The Congressman will advocate for county governments on the infrastructure tax issue.
Maryland’s U.S. Senator Cardin recently wrote to MACo to express his support for upholding the tax exemption on municipal bonds.
MACo had reached out to the Congressman on the issue in December. Senator Cardin serves as a member of the Senate Committee on Finance.
Senator Cardin’s letter is addressed to Commissioner John Barr, Washington County, MACo’s President. In it, the Senator states,
Eliminating the tax exemption for municipal bonds would reduce much-needed investment in our public infrastructure, hurt job creation, and increase the strain on state, county, and municipal government revenues.
The Senator shares his insight from his previous role as the Speaker of the Maryland House of Delegates into the importance of municipal bonds, stating,
Access to affordable debt through the issuance of municipal bonds would sharply increase the cost of capital to Maryland counties, decreasing crucial infrastructure investment.
For more information, read the whole letter from Senator Cardin, and see our previous post, MACo, State Treasurers Ask Congress to Protect Municipal Bonds