Cities, Industry Fight Obama Plan To Finance Water Infrastructure Bank

摘要

Municipal and industry groups are fighting White House plans for financing a national infrastructure bank that would fund water and other infrastructure projects, saying the plan - which seeks to limit tax exemptions for interest earned on municipal bonds - will ruin cities' ability to finance water infrastructure through municipal bonds because it will make the bonds less attractive to investors. The White House has included the financing proposal, which seeks to end the federal tax exemption for interest earned on municipal bonds by those earning more than $200,000 per year, or households earning more than $250,000 per year, in the House version of President Obama's proposed jobs bill and deficit reduction plan, which includes language creating the infrastructure bank.