Senate Finance Markup - Advance Refunding Amendment
The Senate Finance Committee will mark up its tax proposal beginning at 3:00 PM Eastern today. Their proposal would eliminate advance refunding bonds but retain private activity bonds.
Senator Cardin (D-MD) has filed an amendment to, among other things, strike the repeal of advance refunding bonds. Co-sponsors for this amendment are Senators Brown (D-OH), Cantwell (D-WA), Stabenow (D-MI), Casey (D-PA), and Wyden (D-OR). In the list of amendments filed, this amendment is referred to as “Cardin 2” and described as “Expanding and improving economic development incentives for investment in struggling communities.” The full list of amendments filed is available here.