Graves Succeeds in Protecting Private Activity Bonds in Tax Bill
Washington, D.C. – Last week, House and Senate negotiators released the final tax reform package, which maintained the tax-exempt status of private activity bonds (PABs).
U.S Representative Sam Graves, (MO-06), Chairman of the House Sub-Committee on Highways and Transit, authored a letter to House and Senate leadership emphasizing the importance of tax-exempt private activity bonds and requesting that they be included in the final tax reform package.
“Private activity bonds are important financing tools in a wide range of projects from hospitals and schools to airports and local water facilities. There are currently well over $10 billion in PABs issued for a variety of projects across the country. The demand for them is there,” Graves stated in his letter.
Graves said the letter stemmed both from his belief that PABs are critical to infrastructure projects as well as feedback received from across North Missouri.
“The tax exemption of private activity bonds is critical to making sure that the citizens of North Missouri don’t see additional fee increases or tax hikes as a result of necessary upgrades to local facilities and infrastructure. I’m glad that they were included in the final tax reform package.”
The letter was co-signed by 38 other U.S. Representatives from around the country. The final tax reform bill is expected to go before the House and Senate this week.