January 6, 2017
Tax exemptions on municipal bonds are hardly the sexiest political issue surrounding Donald Trump’s transition. But a group of mayors, meeting with the president-elect at Trump Tower on Thursday, were surprised with welcome news when they pressed Trump to keep the exemptions.
“He’s the president-elect, and he said he would keep it,” said Tom Cochran, the CEO and executive director of the U.S. Conference of Mayors. “My lobbyist has been up on the Hill, and they said to us everything is on the table. We didn’t know what would happen.”
He added: “As soon as the sun comes up, I will be contacting the authorities in Speaker Ryan’s office and others on the Democratic side that we were encouraged by the president-elect.”
A spokesman for Trump, who convened the mayors in Trump Tower for about 30 minutes, didn’t respond to a request for comment. Trump has vowed to overhaul the country’s tax code when taking office, and mayors have feared the exemption could be in jeopardy. It has been targeted by some Republicans as too pricey, particularly when the bonds are used to build sports arenas and stadiums.
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Huge thank you and congratulations to our ABLE Committee Chairs @MOTreasurer @Eric_Schmitt and @ILTreasurer Mike Frerichs for their great job..