Mainers' taxes could go up if municipal bonds lose tax exemptions

Contributing sentiments towards policy:

55% : "Eliminating the tax exemption for these investments will lead to further widening of the existing underfunded 'infrastructure gap,' particularly in rural areas less able to seek alternative funding sources.
54% : In Portland, city staff is aware of the discussions about the tax exemption, but does not see it as a short-term concern, according to spokesperson Jessica Grondin.
51% : We will be working with the Maine Municipal Association, the National League of Cities and our federal delegation to ensure the tax-exempt status of municipal bonds, which is critical to our investment in municipal infrastructure, is maintained," she said in a statement.
50% : " Nearly $400 billion in municipal bonds were issued across the country in 2023, and by 2031, those bonds are expected to finance another $3 trillion in critical infrastructure, according to the National League of Cities, which is advocating against eliminating or reducing the exemption.
50% : Poore said the town's bond agent estimates that the elimination of the tax-exempt status would cause rates to increase around 33%, which would increase repayment costs for the projects by $3.9 million. Tracy Roy, Lewiston's finance director, wrote to Sen. Angus King, I-Maine, asking him to advocate for the continuation of the tax exemption.
49% : "Cities and towns rely on municipal bonds to build schools and hospitals, maintain roads, and fund other critical infrastructure projects," she said in a statement.
48% : Towns and cities have long depended on tax-exempt bonds to fund projects of all kinds, from road and sewer repairs to new schools and public safety buildings.
48% : Without the tax exemption, that project would increase by as much as $16.3 million.
47% : Dufour said that the status of the tax exemption has come up several times over the past six months.
46% : Last year, the Maine Municipal Bond Bank financed several tax-exempt projects totaling nearly $9 million in improvements.
45% : A memo leaked from the House Ways and Means Committee includes the federal tax exemption for state and local bonds in a list of programs that could be modified or eliminated to reduce federal spending.
44% : The city will be issuing just over $20 million in tax-exempt bonds this month.
44% : A spokesperson for King said the senator wants the tax exemption kept in place.
28% : Rep. Chellie Pingree, D-1st District, said repealing the exemption "is just another example of how Republicans will go to any length to pass tax cuts for billionaires and big corporations -- and why making people like Donald Trump and Elon Musk even richer is more important to them than investing in our communities.

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