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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
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3.00% |
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S&P California Bond Index
|
2.96% |
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S&P New York Bond Index
|
3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
|
848.03 |
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S&P U.S. Preferred Stock Index (CAD)
|
636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
|---|
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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House Republican sees muni bond tax break surviving
Expects fight from supercommittee's six GOP members |
InvestmentNews - Sept. 28, 2011 - By Mark Schoeff Jr.
Tax breaks for investments in municipal bonds will not be touched by the special congressional committee charged with putting together a deficit reduction package by Thanksgiving, according to a House Republican freshman.
Rep. Steve Stivers, R-Ohio, said that the bipartisan, bicameral 12-member panel will probably not find the seven votes it needs to trim the tax exemption for investing in state and local government projects.
President Barack Obama is hoping that the committee will take up his proposal to cap at 28% tax deductions and exclusions for individuals making more than $200,000 and families making more than $250,000 annually.
The municipal bond tax break is included in that package, which is part of Mr. Obama's jobs plan. The tax reform provisions would raise $1.5 trillion and contribute to $3.2 trillion in deficit reduction over the next decade.
Mr. Stivers, however, doesn't expect his Republican colleagues to go along with the muni bond tax changes. There are six Republicans and six Democrats on the so-called supercommittee.
“It changes the rules in the middle of the game for a lot of [muni bond investors]; it's a tax increase,” Mr. Stivers said in a speech to the Securities Industry and Financial Markets Association's Municipal Bond Summit on Tuesday.
In an interview afterward, Mr. Stivers said that high-income individuals make up most of the muni bond market. Forcing them to take a “haircut” on their returns would cause them to demand higher rates from governments, increasing the costs of infrastructure projects.
“If I was guessing today, I would say that it's not something that will be part of the final report,” said Mr. Stivers, a member of the House Financial Services Committee.
Mr. Stivers could envision municipal bond changes in broader tax reform when it is a part of a larger policy chess set of movable pieces.
For the complete article.
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| Stuff to look at |
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