Daily Tax Report ®

State Treasurers Leader to Lobby to Restore Key Muni Tax Break

Oct. 9, 2019, 5:00 PM

Massachusetts Treasurer Deborah Goldberg, who is taking over as president of the National Association of State Treasurers, said in an interview she will continue to advocate for Congress to restore the tax-exemption on bonds sold for a refinancing tactic known as advance refundings.

The debt refinancings—which allowed governments to refinance debt long before it could be paid off—were a key source of bond sales in the $3.8 trillion municipal-bond market until the 2017 tax law rolled back the subsidies for them.

Goldberg said restoring the tax break will be a top priority for her.

Goldberg said Massachusetts has had to...

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