Broad Array of Stakeholders Call on House to Restore Private Activity Bonds in Tax Reform

In an op-ed in the Washington Examiner, Representatives Randy Hultgren (R-Ill.) and Dutch Ruppersberger (D- Md.) encourage their colleagues in Congress to preserve the tax exemption on private activity bonds (PABs) in tax reform. Housing officials from across the country have called on Congress to preserve PABs, citing the devastating impact the elimination of Housing Bonds (one type of PAB) have on affordable housing. According to Eric Enderlin of New York City’s Housing Development Corporation, “The proposal to eliminate private activity bonds would mean the loss of funding to build thousands of affordable homes for low and middle income New Yorkers. We are confident our partners across the country, and across partisan lines, will fight tooth and nail to protect this critical resource.” Housing officials in California have expressed similar concerns. Hospitals and universities are also taking note, since PABs are also a critical mechanism for infrastructure activity — including building hospitals and university facilities — across the nation. In Illinois and Pennsylvania, the health and academia sectors are joining the fight to restore PABs.

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