In a large bipartisan effort to support the continued tax exemption for municipal bond interest, more than 130 Representatives signed on to a letter to House leadership, including twelve Florida House members. Led by Reps. Dutch Ruppersberger (D-Md.) and Randy Hultgren (R-Ill.), the letter closed with the signatures of Florida Representatives Brown (D), Deutch (D), Diaz-Balart (R), Frankel (D), Garcia (D), Hastings (D), Miller (R), Murphy (D), Posey (R), Radel (R), Ross (R), and Wilson (D).

Capping or eliminating the deduction for interest earned on municipal bonds would significantly increase borrowing costs for Florida's governments, slowing the growth of job-creating infrastructure projects. Over the past decade (2003-2012), Florida state and local governments combined have issued approximately $103.1 billion in municipal bonds to construct and improve public infrastructure. The tax exempt status of municipal bonds saved Florida’s state and local governments an estimated $30.9 billion in borrowing costs over the preceding decade.

FAC would like to thank counties for contacting their members of Congress about this important issue. Please take a moment to thank Florida’s Representatives for signing on to the letter. For more information, visit: http://www.fl-counties.com/advocacy/federal.