Jan. 2, 2013
Issue #1

Editor's Note

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Fiscal Cliff Deal Does Not Include Changes to Municipal Bond Interest Tax Exemption

Automatic Spending Cuts and Other Tough Decisions Delayed for Two Months

The fiscal cliff deal Congress passed late yesterday, The American Taxpayer Relief Act, to protect tax breaks for middle and lower-income tax payers, is considered to be short term solution that simply delays the more difficult decisions for two months. Good news for cities, the legislation does not include any changes to current tax exemptions for municipal bond interest.

Key words: Federal, Revenue and Taxation, Municipal Finance

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