Tax Reform Update: Fate of Private Activity Bonds Still Undecided
Friday, Dec. 1, was a grueling day for tax reform in the Senate, with proceedings lasting from 11:00 AM to 1:50 AM on Saturday. Republicans were rewarded by their determination, passing their version of the Tax Cuts and Jobs Act. The House and Senate will now negotiate a compromise bill. With passage of the Senate’s version, we now have confirmation that tax-exempt advance refunding will be halted after December 31st.
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