By Tim Mudd
Throughout the August congressional recess, NLC continues to call on local officials to take action to protect the bonds cities rely on to finance infrastructure projects, create jobs and keep residents' taxes lower. On NLC’s municipal bonds webpage, city leaders will find four ways to lend their voice to this effort:
“Please help us highlight the importance of municipal bonds to your community by joining cities from around the country in this effort,” requests NLC Executive Director Clarence Anthony. “Please write a letter to your congressional delegation, send an op-ed to your newspaper and, better still, hold a media event at a municipally-funded infrastructure project and invite your member of Congress.”
Curtailing or eliminating the tax exemption of municipal bonds would raise costs for financially-strapped state and local governments and would result in less investment in infrastructure at a time when jobs are scarce and the physical state of public works is deteriorating. It will have a negative impact on local economies, and members of Congress need to hear that directly from their constituents.