WASHINGTON — President Obama’s fiscal 2013 budget will propose a 28% cap on the value of tax preferences, including tax-exempt interest for municipal bonds, according to knowledgeable sources.
The White House is expected to continue to push the 28% cap even though state and local issuers insist the administration’s senior economic advisors told them late last year that the proposal had been dropped.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access