WASHINGTON — Sens. Ron Wyden, D-Ore., and Judd Gregg, R-N.H., said they included provisions to halt the issuance of tax-exempt bonds beginning in 2011 in their tax reform bill to make the tax code fairer for all investors and to help offset proposed revenue losers.

They issued a joint statement yesterday to explain the rationale for the provisions, under which issuers would stop issuing tax-exempt bonds and instead begin issuing taxable tax-credit bonds that provide investors with tax credits equaling 25% of interest costs. The bill also would prohibit advance refundings.

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