Innovative Financing of Infrastructure Investment; The Use of Tax-Exempt Bonds: Hearing Before the Subcommittee on Economic Development of the ... One Hundred Third Congress, Second Sessi - Hardcover

Inhaltsangabe

Excerpt from Innovative Financing of Infrastructure Investment; The Use of Tax-Exempt Bonds: Hearing Before the Subcommittee on Economic Development of the Committee on Public Works and Transportation, House of Representatives, One Hundred Third Congress, Second Session, June 30, 1994

Unlike corporate debt issues, the interest received by holders of state and local governmental bonds. Also known as municipal bonds, is exempt from federal income taxes and may also by exempt from state and local income taxes. Consequently, investors will accept a lower interest rate on tax-exempt Issues because they Will not have to pay taxes on them This lower rate reduces borrowmg costs for state and local governments which use tax-exempt bonds to raise capital to build roads, bridges, airports, mass transit facilities= public power facilities and schools.

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