Final Tax Plan Has Money for States, not Localities

Duff, Susanna
May 2003
Bond Buyer;5/27/2003, Vol. 344 Issue 31643, p4
Trade Publication
This article reports that the final $350 billion tax-cut package sent to the White House on May 23, 2003 for President Bush's signature represents virtually no threat to the municipal bond market and provides $20 billion to fiscally strapped states, but nothing for localities. The final product allowed the municipal bond market to breath a sigh of relief because the centerpiece of the plan reduces the tax rate on corporate dividends in a way that poses less of a threat to tax-exempt bonds than the plan originally proposed by the president.


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