The municipal bond industry is concerned about a proposal to cap the value of tax-exempt municipal bond interest to 28 percent for high-income taxpayers.
The proposal has appeared in the past two (FY 2013 and 2014) Obama budgets, although in somewhat different form. The 2013 budget proposed the cap only for joint filers reporting taxable income above $250,000 or single-filers above $200,000. The 2014 proposal would affect any taxpayer in a bracket above 28 percent (currently 33 percent, 35percent and 39.6 percent).
Actually, the proposal helps to demonstrate who is facing the highest marginal tax impacts in America – high-income seniors.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
