House Republicans Object to Elimination of PABs under Tax Cuts and Jobs Act

Wednesday, November 29, 2017 - 11:45am

A letter signed by 21 House Republicans yesterday objects to the proposed elimination of tax-exempt private activity bonds (PABs) and advanced refunding bonds in the Tax Cuts and Jobs Act (H.R. 1). The letter, addressed to Senate Majority Leader Mitch McConnell, House Speaker Paul Ryan, Senate Finance Committee Chairman Orrin Hatch and House Ways and Means Committee Chairman Kevin Brady, states that these changes are incompatible with President Donald Trump’s priority for infrastructure investment in the United States as the bonds help finance housing for low- to moderate-income families, toll roads and expressways, airports and seaports, and hospitals and universities.