Public Finance Network Letter on Corporate AMT Impact on Tax-Exempt Bonds

On November 1, 2021, GFOA, joined by nearly thirty public issuer organizations from the Public Finance Network, sent a letter to Capitol Hill expressing concern and calling for changes to the proposed Corporate Alternative Minimum Tax (AMT)—currently part of the budget reconciliation debate. As written in the proposed bill, tax-exempt bond interest would be subject to the corporate AMT, which could result in higher borrowing costs on communities across the country.

• Publication date: November 2021